We are glad you have joined us, and look forward to assisting you. We have listed our most Frequent Asked Questions, and encourage you to complete a search to find your new Carrington loan number.
Carrington offers several payment options. You can enroll in Automatic Payments is free of charge by visiting the Automatic Payments page on the website after logging in to your account at www.carringtonms.com. You can also enroll in Automatic payments by completing the Auto Draft Authorization Form. You can also make a one-time payment on our website free of charge, or by using our automated phone line for a $5 processing fee or with a representative for $15 processing fee at 800-561-4567. Payments submitted after 11.00 pm eastern(8.00 pacific) will be processed the next business day.
A monthly statement will be generated no later than the 17th of the month (or the next business day). You can also view your statements online at www.carringtonms.com.
You can request a payoff on your account online by logging in and visiting the “Payoff Request” page. Your payoff request can also be faxed to 866-624-6154. Please include your loan number, the date you would like the interest calculated to, and the return fax/mail instructions. Please allow 5-7 business days for your request to be processed.
Your loan includes a separate escrow account to set aside funds for your property. When you make your monthly payment, a specific amount is deposited into your escrow account. When bills for your property tax, homeowners insurance, flood insurance (if applicable), and mortgage insurance are due, Carrington will send the payment from the escrow account.
Carrington will perform an escrow analysis approximately 30-60 days after boarding the loan. Thereafter, the escrow analysis will be run annually. Once the analysis is complete, you will receive an escrow analysis in the mail with the anticipated payouts and the updated escrow payment.
If the payment amount changes for your taxes or insurance, the escrow payment is adjusted to ensure there are enough funds in your escrow account to cover the cost.
Yes. If you decide to change insurance companies, please fax the updated insurance policy to us no less than 30 days prior to the renewal date to ensure the payment is sent to the updated insurance company. If you are switching insurance companies prior to your renewal date, please fax the declarations page for the active policy that you are switching to. The insurance department fax number is 866-493-1441.
If you have a FHA, USDA, or VA loan we are unable to remove the escrow account from your payment. The escrow account is a requirement of your loan designed to reduce the burden of larger annual payments due.