Company News: Page (1) of 1 - 08/08/14

Carrington Mortgage Services Addresses Achieving Homeownership on Designing Spaces on the Lifetime Channel

Leader in "serving the underserved" market discusses how it helps consumers like Derek and Kari Ellerd fulfill the American Dream of owning a home, on August 13, 2014 at 7:30am ET/PT.

August 08, 2014 --

SANTA ANA, Calif., Aug. 8, 2014 /PRNewswire/ -- Carrington Mortgage Services, LLC (Carrington) today announced it will be presented as the featured segment on the hit TV show, Designing Spaces, airing on the Lifetime Network on Wednesday, August 13, 2014 at 7:30am ET/PT. Celebrating their ten year anniversary this year, Designing Spaces is the signature home improvement television series that travels all over the country redefining and redesigning homes. Designing Spaces engaged Carrington, a committed leader in "serving the underserved" residential mortgage market, to offer professional insight into fulfilling the American Dream of owning a home. Carrington announced its concentration on meeting the needs of the underserved market in March of this year, and since has been established as the go-to resource for credit-challenged borrowers and the mortgage brokers and real estate agents who support them as a result of the company's experience in credit management, underwriting and servicing.

New Homeowners and Carrington Mortgage Services Customers Derek and Kari Ellerd

The TV segment, filmed in Carrington's Ft. Myers, Florida branch, features real-life clients Derek and Kari Ellerd, who were able to achieve their dream of homeownership with the help of the Carrington team. Ray Brousseau, Executive Vice President of Carrington Mortgage Services' Mortgage Lending Division, and his team of Ft. Myers branch representatives discuss in the segment how they were able to work with the Ellerds, a local, newly married couple, to overcome several obstacles presented throughout their home loan experience, including common concerns many Veterans encounter, as well as certain credit issues that may make it difficult to qualify for a loan with lenders who do not understand this underserved market segment. Brousseau explains there are opportunities available for meeting the needs of credit-challenged borrowers, and highlights the importance of borrower education, a primary focus for Carrington, by discussing the company's patent-pending online loan review resource MyLoanDetail, designed to improve the financial literacy of its customers by walking every customer through the details of their loan.

"We are delighted to serve as the go-to 'underserved market' resource for the Designing Spaces audience, and to be in a highly qualified position to address concerns, simplify the process, and assist all consumers in fully understanding the important aspects involved in the home loan process," said Ray Brousseau, Executive Vice President of Carrington Mortgage Services, LLC's Mortgage Lending Division. As Brousseau states in the segment, "There are very limited loan programs available that can assist credit-challenged borrowers when trying to buy or refinance a home. For these consumers, Carrington is uniquely positioned to help by offering expanded loan programs and lower minimum credit score requirements on loan programs owned and serviced by Carrington after origination, which ensures we maintain our responsibility and relationship with our customers."

To view the Designing Spaces segment featuring Carrington and its home loan programs available after the August 13th air date, please follow Carrington on Facebook, Twitter or LinkedIn. To learn more about Carrington's Mortgage Lending Division, please visit

Carrington's Commitment to Serving the Underserved Market

An estimated one in three consumers has a FICO credit score below 650 according to industry experts. For these consumers, obtaining access to appropriate financing options can be a challenge one that Carrington is uniquely equipped to handle due to the company's ability to both originate quality loans and appropriately service them after the fact. While Carrington will continue to provide a wide breadth of product and support to borrowers across all ranges of the credit spectrum, the company will increase its attention and focus on providing service to that underserved segment of the market where it can make the most impact and where its core competencies are obviously needed.To accelerate and further enhance its ability to give this market the attention it deserves, Carrington has lowered its minimum credit requirement to a FICO score of 550, and expanded its guidelines on a number of FHA, VA and USDA loan programs, extending eligibility to more property types and reducing overlays.

As advocates of borrower education and in support of the company's commitment to meeting the needs of the underserved market, Carrington developed patent-pending MyLoanDetail, a proprietary online loan review resource designed to improve the financial literacy of its customers by walking every customer through the details of their loan. This education initiative will help to ensure borrower understanding of loan terms and responsibilities. Carrington requires all borrowers with credit scores of 640 and below to successfully complete the MyLoanDetail online education program prior to funding.

About Carrington Mortgage Services - Mortgage Lending Division

Carrington Mortgage Services, LLC (Carrington; NMLS ID 2600) is a residential retail and wholesale lending subsidiary of Carrington Holding Company, LLC. Founded in 2007, the company is based in Santa Ana, California and is an equal housing opportunity lender licensed to originate loans in 43 states, the District of Columbia and Puerto Rico with an experienced team focused on producing high quality loans and error-free transactions.Carrington's advanced technology platform and high-touch customer service provide superior loan origination experiences for consumers, while its commitment to borrower education and use of its proprietary online loan review resource, MyLoanDetail, enhance the company's ability to responsibly extend credit to borrowers especially those in the underserved market.

Carrington's wholesale lending products include FHA, VA and USDA loans. To learn more about Carrington's wholesale lending division and the company's current promotions, visit, or follow us on Facebook, Twitter or LinkedIn.

Media Contacts:

Christine Stricker
Carrington Mortgage Holdings
Office: (949) 517-7313
Mobile: (714) 873-4275
[email protected]

Pam Steele-Unger
O2 Media
[email protected]
(954) 691-1102

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SOURCE Carrington Mortgage Services, LLC

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