Carrington Mortgage Services LLC (CMS)
has announced the launch of Prime Advantage, designed for higher-credit-quality non-agency borrowers who may have “just missed” qualifying for conventional or jumbo loans. The Prime Advantage product allows for the use of Alternative Income Documentation, while delivering competitive pricing. Prime Advantage is a perfect fit for borrowers who find themselves in between qualifying for the Carrington Flexible Advantage Plus program and conventional or jumbo products.
“Since the day I joined Carrington, our primary objective has always been to lead non-agency lending back into the marketplace,” said Greg Austin, executive vice president of Carrington Mortgage Services. “We know how important it is to ensure our product offerings are sharp and industry leading. Our team works hard daily to deliver on that promise. Prime Advantage is an example of that commitment.”
Prime Advantage is the latest addition to CMS’s diverse product offerings, which are designed to meet the needs of today’s non-delegated originators, and include conventional Fannie Mae and Freddie Mac products, FHA, VA and USDA products and Carrington’s proprietary Flexible Advantage products, which were specifically developed to further demonstrate our ongoing commitment to underserved borrowers.
“As the non-agency lending space experiences fast-paced change, at Carrington we have continuously met market demands for that change,” said Fred Quick, executive vice president of retail lending for Carrington Mortgage Services. “The key to a successful non-agency offering is to provide a complete suite of non-agency programs, and by adding Prime Advantage we’ve done just that.”