Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


July 02, 2015 6:00 PM ET

Thrifts and Mortgage Finance

Company Overview of Carrington Mortgage Services, LLC

Company Overview

Carrington Mortgage Services, LLC provides mortgage loan servicing support services to borrowers and investors in the United States. It also offers home loans through its retail and wholesale channels. The company was founded in 2007 and is based in Santa Ana, California. It has branches in Warrenton, Virginia; Houston and Plano, Texas; Fishers, Indiana; and other parts of the United States. Carrington Mortgage Services, LLC operates as a subsidiary of Carrington Holding Company, LLC.

1610 East Street Andrew Place

Suite B-150

Santa Ana, CA 92705

United States

Founded in 2007

Phone:

949-517-7000

Fax:

949-534-9843

Key Executives for Carrington Mortgage Services, LLC

Chief Executive Officer of Carrington Holding Company
Senior Vice President of Capital Markets
Executive Vice President of Mortgage Lending
Senior Vice President of Wholesale Lending
Executive Vice President
Compensation as of Fiscal Year 2015.

Carrington Mortgage Services, LLC Key Developments

Carrington Mortgage Services Announces Availability of MyLoanDetail

Carrington Mortgage Services, LLC announced the availability of MyLoanDetail, the company's proprietary online loan review resource designed to provide borrowers with a thorough understanding of their obligations under their mortgage application and contract. Advocates of improving borrower education, Carrington developed this patent pending initiative to help enhance consumer understanding of loan terms and responsibilities. Nearly 10,000 borrowers have successfully utilized the patent-pending MyLoanDetail process in beta trials and the company now requires all borrowers to complete the program prior to their loan funding. MyLoanDetail consists of a short explanation of the mortgage process and confirmation of the borrowers' understanding of their specific loan. The program includes key mortgage concepts and terminology, an introduction to the professionals involved in the process and their roles, as well as a review of the borrower's loan details and payment information. Borrowers are asked to confirm the accuracy of information provided in their loan application and are given an opportunity to provide additional information that may be important in processing the application and verifying their ability to repay.

Carrington Mortgage Services Introduces Carrington Loan, with No Closing Costs or Upfront Fees

Carrington Mortgage Services introduced a new simplified home loan process with no closing costs or upfront financing fees. The company claims its new "Carrington Loan" eliminates 100% of loan closing costs for borrowers in the sub-640 FICO score range. This new offering is in keeping with the company's commitment to meet the needs of "underserved" and first-time home buyers." With The Carrington Loan, there is no need to modify the rate after it is presented to the borrower to offset loan costs and loan closing fees, and unexpected increases to estimated closing costs are not an issue. Removing these barriers greatly alleviates the stress on borrowers who desire to fulfill their dream of homeownership. The Carrington Loan is unique in that there are no closing costs, appraisal fees or lender financing fees: Carrington pays all eligible loan costs as lender credits. If any unanticipated lender costs arise, Carrington will issue a credit to cover them. This may include additional title or escrow service charges from the title or settlement company.

Carrington Mortgage Services, LLC Announces to Expand its Operations

Carrington Mortgage Services, LLC announced plans to expand its operations here, creating up to 360 new high-wage jobs by 2019. The Santa Ana which is a subsidiary of Carrington Holding Company, LLC, will invest $3.17 million to renovate and equip a 77,000 square-foot facility in Westfield. The planned facility, which will be operational by the end of this year, will provide growth opportunities for the company's origination and servicing departments.

Similar Private Companies By Industry

Company Name Region
Select Portfolio Servicing, Inc. United States
Diamond Bay Investments, Inc. United States
Kenrich Corp. United States
Coats & Co., Inc. United States
Herio Capital, LLC United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Carrington Mortgage Services, LLC, please visit www.carringtonms.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.