Carrington Mortgage Services Receives Ginnie Mae Approval

• Authorization enables growing specialty finance firm to issue securities backed by FHA loans and increase market presence

SANTA ANA, Calif.--(BUSINESS WIRE)--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.

“As others exit the origination sector, particularly in wholesale”

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 Mortgage Services’ 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,” noted Steve Patton, executive vice president for Carrington Mortgage Services, 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 Carrington Mortgage Services - Mortgage Lending Division

Carrington Mortgage Services, LLC – Mortgage Lending Division offers residential loans nationally, through retail and wholesale channels. With an experienced sales force, Carrington’s advanced technology lending platform is focused on producing high quality loans and problem-free transactions. Noted for its high-touch customer service, Carrington is committed to providing superior loan experiences for retail and wholesale customers. The company was established in 2007, is based in Santa Ana, California, and is licensed to lend and/or broker loans in 37 states. Carrington Mortgage Services, LLC is an equal housing opportunity lender. To learn more about Carrington Mortgage Services, visit www.carringtonhomeloans.com.

About the Carrington Family of Companies

Founded in 2003, the Carrington family of companies has evolved from a mortgage credit asset manager into a vertically integrated specialty finance company. Together, the Carrington family of companies directs every aspect of the life cycle of single family residential assets - from investment and origination through asset management and disposition. The Carrington family of companies now includes more than 80 local real estate, mortgage lending and servicing, property management and property preservation offices nationwide. To learn more about the Carrington family of companies, visit www.carringtonhc.com.