Skip to main content

National Lender Expands Its Services Through Ginnie Mae Approval

Jul 19, 2011

Carrington Mortgage Services LLC, a national mortgage lender and servicer, has announced that it has received approval to be a Ginnie Mae issuer for the GNMA I and II single-family mortgage-backed securities (MBS) program. The approval allows Carrington to pool and securitize Federal Housing Administration (FHA) loans, and provides an avenue for increasing growth by adding those FHA loans to the servicing portfolio. To this point, Carrington has originated conventional, jumbo, FHA and VA loans, exclusively selling whole loans into the secondary market. By becoming a GNMA lender, Carrington reduces the middlemen in the origination-to-capital markets process, benefiting the company and those it serves.  Carrington’s team of professionals embraces the new capability and continues to be focused on delivering quality service with speed and consistency, offering consumers competitively priced products through its national retail branch network and wholesale lending division.  “This approval expands our capabilities as a mortgage originator and servicer, and ultimately allows us to better serve our retail and wholesale customers,” said Steve Patton, executive vice president for Carrington Mortgage Services LLC, Mortgage Lending Division. “As others exit the origination sector, particularly in wholesale,” he said, “Carrington is committed to increasing its presence and providing needed liquidity for qualified borrowers, as well as high-quality investments for purchasers of our GNMA securities.”
About the author
Published
Jul 19, 2011
Former Rocket Mortgage SVP Turned UWM Broker Partner

Zoom Home Lending, headed by former Rocket Mortgage executives, partner with their old wholesale rival, UWM

Jun 20, 2024
Potential For Declining Rates This Summer, Following CPI Report

Norada Real Estate Investments said "rates likely to decline" after the latest CPI report.

Jun 17, 2024
Looking For Change Under Every Couch?

Don’t overlook the obvious – employees have ideas for cost savings, too

Jun 10, 2024
New American Funding Announces New Cash-Offer Program

Similar to Opendoor and Homeward, NAF Cash Maps offers buyers a bidding war advantage

Jun 05, 2024
CFPB Issues Public Inquiry On Junk Fees Affecting Closing Costs

Agency seeks to understand why closing costs are up, who is benefiting, and how costs can be lowered.

May 30, 2024
STRATMOR, Teraverde Deal A 'Merger Of Equals'

The recent merger of mortgage advisory firms came without the need to lay people off or make any major staffing changes.

May 23, 2024