Investment Business Weekly
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Carrington Mortgage Services, LLC
Carrington Mortgage Services Receives Ginnie Mae Approval
August 7th, 2011
Carrington Mortgage Services, LLC (Carrington), a national mortgage lender and servicer, announced that it has received approval to be a Ginnie Mae (GNMA) issuer for the GNMA I and II single-family mortgage-backed securities program. The approval allows Carrington to pool and securitize 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...
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Source: Investment Business Weekly (2011-08-07)