Carrington Mortgage Services launches delegated correspondent lending channel

Carrington Mortgage Services (CMS) has announced the roll-out of its delegated correspondent lending channel. The non-QM lender has also onboarded several correspondent sales professionals to support its new line of business.

Michael O’Brien, vice president of correspondent sales, said that the launch of the new division enables the company to further establish its position in the correspondent lending space.

“Many lenders want to control the transaction with their borrower,” O’Brien said. “Offering a delegated delivery option allows us to reach more of those lenders. It also gives those lenders access to Carrington’s impressive suite of products.”

O’Brien added that the launch of the delegated correspondent lending platform is an “exciting addition” to CMS’ wide variety of government and non-QM loan products. Last March, the company made comprehensive changes to its non-QM rates and guideline to better accommodate borrowers with FICO scores down to 550.

“The depth and breadth of our offering provides our sellers with additional options for their borrowers, resulting in growth for their business,” said Greg Austin, executive vice president of mortgage lending at CMS. “The CMS operations team, with few exceptions, has worked together for many years, and the level of service provided by this team is nothing less than outstanding. Sellers receive very quick turn times and have access to all team members.”