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Tag Archives: Carrington Property Services

Credit Rating Service Assigns Vendor Rankings

Morningstar Credit Ratings today assigned its "MOR RV1" residential vendor ranking to Carrington Property Services (CPS) as a residential single-family rental property manager and as a residential REO asset manager. The forecast for the rankings is Stable.

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Carrington Expects ‘Bullish Outlook’ for 2014

Are Mortgage Underwriters Exempt?

Carrington Property Services announced Friday its bullish outlook for 2014, citing predictions that the single-family/rent-to-own business market will exceed $15 billion. In the release, the company noted that it provides "third party property management services and/or components of property management, due diligence and valuation services to the banking/mortgage segment."

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Carrington Property Services to Manage Expanding Rental Portfolio

Carrington Property Services announced it is taking over property management responsibilities on rental properties owned by capital management firm Gorelick Brothers Capital. Per the two companies' partnership, Carrington will manage Gorelick's rental portfolio, which is located primarily in seven major urban centers.

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Carrington, LendingXpress Partner to Deliver REO Asset Services

Carrington Property Services, LLC (Carrington) and LendingXpress, a platform from SWBC, formed an exclusive partnership to bring REO asset management services to smaller-scale financial institutions. As part of the agreement, LendingXpress will market Carrington's REO asset management solution to its customer base of credit unions and community banks.

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Firms Launch $450M Program to Convert REOs Into Rentals

Government officials are in the process of reviewing 4,000-plus recommendations for turning repossessed homes into rental properties in order to trim the REO inventory held by federal housing agencies. The administration says it is pursuing potential ideas for REO-to-rental pilot programs ""with a sense of urgency,"" but two California firms don't plan to wait on the government's involvement. Carrington Holding Company and Oaktree Capital have partnered to buy up $450 million in REOs and convert them into rentals.

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Carrington Mortgage Services Names SVP of Capital Markets

Carrington Mortgage Services, LLC has announced the hiring of Brad Nease as SVP, capital markets. In this newly created position, Nease will lead the secondary marketing efforts for the company's growing loan origination business, and will be responsible for product development, investor relations, loan trading, and warehouse lending. Nease has more than 28 years' experience in the industry. He joins Carrington from ICON Residential Lenders, where he was COO of capital markets.

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RealtyTrac’s Rick Sharga Departs to Join Carrington Mortgage Holdings

Rick Sharga has been the voice of RealtyTrac for more than seven years, serving as SVP at the foreclosure tracking and research firm since 2004. But effective this week, he has left RealtyTrac to join Carrington Mortgage Holdings. Sharga has taken on the role of EVP at Carrington and will serve as its primary industry spokesman. Sharga will be responsible for developing branding and marketing strategies for the entire Carrington Family of Companies.

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