CMS Expands Affordability-Minded Offerings

Carrington Mortgage Services expanded its offerings to include 40-year loans and temporary buydowns as homebuyers prioritize affordability in today’s tough market. The lender said it aims to offer greater affordability to homebuyers, especially first-timers, buyers who are in the process of improving their credit, and those with non-traditional incomes.  “At Carrington, it’s our company’s mission to enable a lifetime of simple and attainable homeownership,” said Greg Austin, EVP of Mortgage Lending for CMS. “For homebuyers looking for greater affordability, our 40-year loan and temporary buydowns are options that we are proud to offer.” Broad offerings are especially important in the age of gig work and side hustles. One study found that gig workers make up a full quarter of the…

Morning Roundup (6/6/2022) – 40-Year Mortgages, Another Equity High

Good Morning! Today is Monday, June 6. Russian missiles struck Kyiv, the first attack on the capital in more than a month. A street brawl in Philadelphia this weekend turned into a mass shooting, killing three people. Rafael Nadal beat Casper Ruud in the men’s French Open final. The Mortgage Note Reports 40-Year Mortgages Making A Comeback? Writer Scott Kimbler reports that they are popular again, but experts warn the risk may not be worth the reward. Another Equity High: Home prices have risen 42% since the beginning of the pandemic and have gained 9% in value just since the first of the year, with equity reaching another all-time high. MacArthur Promoted: Salisbury Bank and Trust Company has promoted Andrea MacArthur to Vice President, Mortgage Advisor. And in other mortgage…