The Carrington Mortgage Services Non-QM Competitive Advantage

Improved non-QM rates and guidelines to deliver a competitive advantage for CMS Retail, Wholesale and Correspondent channels

ANAHEIM, Calif.--()--Carrington Mortgage Services, LLC (CMS), one of the nation’s largest privately held non-bank lenders, boasts an impressive slate of loan offerings available through its loan origination channels, which include Retail, Wholesale and Correspondent lending. To sharpen its competitive edge, CMS recently announced comprehensive changes to its non-QM rates and guidelines that deliver a compelling advantage for CMS Retail, Wholesale and Correspondent channels.

“We have been exploring ways to grow our non-QM presence for some time,” says Jeff Gillis, EVP, Wholesale Lending, for CMS. “We are now a price leader in the non-QM space; and this is particularly true for our Carrington Investor Advantage product.”

During a recent analysis of its non-QM pricing and related guidelines, CMS identified a number of ways to improve its non-QM product offerings: Carrington Flexible AdvantageSM, Carrington Flexible Advantage PlusSM, Carrington Prime AdvantageSM and Carrington Investor AdvantageSM.

“The Retail opportunity is to get to market quickly, become experts on our products and grow the platform considerably into 2021 and well beyond,” says Fred Quick, EVP, Retail Lending, for CMS. “I see non-QM as a major contributor to the future of our Retail platform.”

CMS’s diverse product offerings, which are designed to meet the needs of today’s retail customers, wholesale mortgage brokers and non-delegated correspondent sellers, include conventional Fannie Mae and Freddie Mac products, FHA, VA and USDA products and Carrington’s proprietary Prime AdvantageSM, Flexible AdvantageSM and Investor AdvantageSM products, which specifically were developed to further demonstrate the company’s ongoing dedication to borrowers with FICO scores down to 550. Carrington also is distinguished by its considerable expertise in manual underwriting and processing. Carrington Prime Advantage and Flexible Advantage loans are right for borrowers with recent credit events, as well as non-traditional income sources such as self-employment or contract employment, often verifiable by such documents as bank statements, who want to purchase a home or refinance higher loan balances. Carrington’s Investor Advantage Program highlights include no personal income requirements, with qualification based on property cash flow.

According to Kevin DeLory, SVP, Wholesale & Correspondent, for CMS, the recent pricing and guideline adjustments are a bold move designed to make Carrington a non-QM market leader.

“We have the most competitive rates and guidelines, allowing us to position Carrington as the leader in the non-QM marketplace,” says DeLory. “The commitment is there for us to be the premier lender in the non-QM space.”

For more information on CMS products and services, please visit or

The Carrington Companies

Carrington is a holding company whose primary businesses include asset management, mortgages and real estate transactions. Collectively, the businesses are vertically and horizontally integrated, and provide a broad range of real estate services encompassing nearly all aspects of single family residential real estate transactions in the United States. To read more visit:

Through its collective associates made up of Carrington leaders and employees, the company’s nonprofit organization, Carrington Charitable Foundation, contributes to the community through causes that reflect the interests of Carrington Associates. For more information about Carrington Charitable Foundation, and the organizations and programs it supports through specific fundraising efforts, please visit:


Edward Pittman

Release Summary

Improved non-QM rates and guidelines to deliver a competitive advantage for Carrington Mortgage Services Retail, Wholesale and Correspondent channels.

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Edward Pittman