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Does anyone have experience with Carrington Mortgage??

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phats25170
Member

Does anyone have experience with Carrington Mortgage??

I received a preapproval from Carrington Mortgage and wanted to know if anyone else has gotten a mortgage through them. What was your experience good/bad and what is their loan process, do they repull credit prior to closing?
Message 1 of 11
10 REPLIES 10
JVille
Valued Contributor

Re: Does anyone have experience with Carrington Mortgage??

Have you Googled Complaints and Reviews for them?
Message 2 of 11
JVille
Valued Contributor

Re: Does anyone have experience with Carrington Mortgage??

Google is your friend!

https://www.consumeraffairs.com/finance/carrington-mortgage-services.html

https://www.complaintsboard.com/complaints/carrington-mortgage-california-c55077.html

Yiks sounds ugly but bottom line the majority of these folks had payment issues. Yes your payment is due every month and due on the 1st of the month.
Message 3 of 11
NC_Mtg_Loaner
Valued Contributor

Re: Does anyone have experience with Carrington Mortgage??

Most lenders are more than likely going to do a "soft pull" of your credit within a few days of closing in order to confirm that your Final Application (Yes, a Final Application will be what you sign at Closing) doesn't reflect any new inquiries or accounts that haven't been added that change your DTI or loan parameters.

__________________________________________________

Licensed NC Mortgage Loan Originator
Message 4 of 11
keny01998
Established Member

Re: Does anyone have experience with Carrington Mortgage??

I've been with Carrington Mortgage since 2011 and they are just like any other businesses. People who complained about them are the ones with payment problems or lates. I set up auto pay and my bill has been paid every 14th of the month. 

Message 5 of 11
Anonymous
Not applicable

Re: Does anyone have experience with Carrington Mortgage??

My second mortgage was sold to Carrington. The first contact I recieved from them stated that my loan balance was almost $70,000 more than the $35,000 I borrowed from the original lender. I asked for a statement, they refused to supply one.

My personal information that was transfered to Carrington from my original lender, was compromised during a data breach after the transfer.

I was also contacted by a company named Ursus on Carrington's behalf stating they "misplaced" my mortgage note..and that I needed to resign a replacement asap.

My stance with Carrington was that I needed to see something in writing from them showing the correct amount that I owed them, to ensure their records were correct, and that I was not in some sort of scam. Given the above details, any resonable person would be skeptical.

After almost a year...I finally recieved documents, I signed a modified loan so they now have the note that they need and have been current.

I now demand that Carrington take the late payments off of my credit history, because it was their errors in record keeping, lack of security of my personal information and unwillingness to provide me the information to ensure me that everything was legitamate, that has led us to this juncture.

I have done my due dilligence by writing detailed letters, and spending countless hours, being passed from person to person...and not getting anywhere.

J. Yater
Hamilton, Ohio.
Message 6 of 11
homeloanexpert
Established Contributor

Re: Does anyone have experience with Carrington Mortgage??

@phats25170

 

I can only speak to this from a limited view point. I work for a lender that sells 75% of our funded loans. Carrington Mortgage Services buys the part of our portfolio with less than 580 credit scores. Not to say they won't fund or purchase higher qualify loans. On my former clients who have found that their servicing has changed to CMS, I have yet to receive a single compliant based on poor customer service. Like any business, there will always be a few cases where there someones experience has been just a nightmare. But they are a strong viable company and I wouldn't worry.

 

Best wishes to you!

Branch Manager - Specializing in FHA, VA, USDA, Conventional, Jumbo, Portfolio and Non-QM Loan Products.
Message 7 of 11
Anonymous
Not applicable

Re: Does anyone have experience with Carrington Mortgage??

I heard bad reviews on them from my cousin who applied for Carrington Mortgage.

Message 8 of 11
homeloanexpert
Established Contributor

Re: Does anyone have experience with Carrington Mortgage??

@Anonymous 

 

I hope your cousin isn't in a big hurry to close. They got slammed after  the recent changes took place in the industry a couple of  months back.  They got hit with all the less than 620 FHA's and VA's. The turn times are horrible now. I have several loans there, and they are taking at least 45-60 days to close. But they will approve loans that no one else will.

Branch Manager - Specializing in FHA, VA, USDA, Conventional, Jumbo, Portfolio and Non-QM Loan Products.
Message 9 of 11
jsully87
Regular Contributor

Re: Does anyone have experience with Carrington Mortgage??

@homeloanexpert Sorry to revive an old post but I am currently working with them - how are their turn around times now? Any better?

 

Thanks!

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Message 10 of 11
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