Carrington Mortgage Services (CMS) expanded its offerings to include 40-year loans and temporary buydowns. The 40-year option is not available for conventional and government loans but for all CMS nonqualified mortgage products: Carrington Flexible AdvantageSM, Carrington Flexible Advantage PlusSM, Carrington Prime AdvantageSM and Carrington Investor AdvantageSM. Temporary buydowns, on the other hand, are available for homebuyers who seek government-backed and conforming conventional loans.
Experian announced that consumers can now choose to share information directly from their employers’ payroll service through Experian Verify when applying for credit, including mortgages. The enhancement introduces Experian’s automated income and employment verification waterfall, helping lenders to easily leverage both instant and permissioned technology with consumer consent to verify income and employment for more than 85% of the U.S. workforce.
Doma Holdings announced the sale of its Texas and Midwest local retail title operations to Capital Title of Texas and Near North Title Group, respectively. The completed sales include multiple retail title locations and operations centers in the Texas, Illinois, Indiana, Minnesota and Wisconsin regions.