Carrington Mortgage Services

Name

Carrington Mortgage Services

Legal name

Carrington Mortgage Services, LLC

Website

https://carringtoncorrespondent.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Non-QM Mortgage Lending and Servicing

NAICS

Real Estate Credit (522292)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Non-QM & Specialty Wholesale Lending (Bank Statement/DSCR/Alt-Doc) (FSALACAD)

akta.pro secondary industries

Non-Agency (Jumbo/Non-QM) Mortgage Servicing (FSALAEAB), Wholesale Mortgage Lending (Broker Channel) (FSALACAA)

Keywords

• Non-QM mortgage lending
• Correspondent lending
• Mortgage servicing
• Alternative documentation loans
• DSCR investor loans

Headquarters

HQ city

Anaheim

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Non-QM Loan Purchasing: Carrington purchases non-qualified mortgage loans from approved correspondent lenders who originate, process, and close loans meeting Carrington's program parameters
2. Mortgage Servicing: Servicing of Ginnie Mae and other mortgage portfolios, managing approximately $200 billion in servicing balances across all 50 states

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Carrington Mortgage Services is a non-QM (non-qualified mortgage) correspondent lender that purchases non-conforming loans from approved third-party originators and brokers across the United States. The company underwrites and acquires loans under four specialized programs (Prime Advantage, Flexible Advantage Plus, Flexible Advantage, and Investor Advantage) designed for self-employed, real estate investor, and credit-challenged borrowers, and also services a mortgage portfolio exceeding $200 billion in unpaid principal balance across all 50 states.

Product overview

Carrington Mortgage Services operates as a Non-QM (non-qualified mortgage) correspondent lender offering a portfolio of specialized loan programs through its Correspondent channel. The product suite includes four distinct Non-QM loan programs: Carrington Prime Advantage℠ for borrowers missing agency/jumbo qualification (660+ FICO), Carrington Flexible Advantage Plus℠ for self-employed borrowers with 620+ FICO, Carrington Flexible Advantage℠ for credit-challenged borrowers with scores as low as 550, and Carrington Investor Advantage for property investors using DSCR (debt service coverage ratio) instead of income documentation. Supporting these products is the CORRIQ internal portal for loan submission, pricing, locking, and monitoring. Additionally, in May 2026, Carrington announced a strategic partnership to adopt ValonOS as its AI-native core servicing platform for government/servicing operations, acquiring approximately 800,000 loans from Valon Mortgage to expand its servicing portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• CorrIq: Carrington's correspondent portal that allows brokers to submit, price, lock and monitor loans.
• Carrington Prime Advantage℠
• Carrington Flexible Advantage Plus℠
• Carrington Flexible Advantage℠
• Carrington Investor Advantage

Products and services

• Carrington Prime Advantage Non-qualified mortgage loan program for borrowers who miss qualifying for agency or jumbo financing. Features a 660 minimum FICO, 90% maximum LTV, and loan amounts up to $3.5 million. Supports 1099, P&L, bank statements, asset depletion, W2, and full-doc income documentation.
• Carrington Flexible Advantage Plus Non-qualified mortgage loan program for self-employed borrowers with credit scores down to 620. Allows bank statements in place of IRS tax documents to verify income and accommodates borrowers with recent credit events such as late payments, foreclosures, or bankruptcy.
• Carrington Flexible Advantage Non-qualified mortgage loan program for borrowers with recent credit events (late payments, foreclosures, bankruptcy) with credit scores as low as 550. Permits alternative documentation and bank statements in place of IRS tax documents to verify income.
• Carrington Investor Advantage Debt Service Coverage Ratio (DSCR) loan program for property investors that allows them to skip the income qualifying process. Suited for first-time investors, supports ITIN borrowers, offers up to $3 million in loan amounts with up to $1 million cash-out, and permits closing in an LLC.
• Mortgage Servicing Servicing of Ginnie Mae and other mortgage loan portfolios, managing approximately $200 billion in unpaid principal balance across all 50 states. Expanded by approximately 800,000 loans through the May 2026 acquisition of Valon Mortgage's portfolio.

Quantifiable outcome

• Manage $200 billion+ in servicing balances
• +1 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Valon TechnologiescoreTechnology or Integration · 9 May 2026Strategic partnership where Carrington adopts ValonOS as its core servicing platform. Carrington alongside a private equity partner will acquire Valon Mortgage, expanding Carrington's servicing portfolio by approximately 800,000 loans. The deal aims to modernize Ginnie Mae servicing operations using Valon's AI-native technology platform.
• Valon Mortgage (Valon Technologies subsidiary)coreStrategic or Co-development Partner · 8 May 2026Acquisition of Valon Mortgage's portfolio of approximately 800,000 loans worth $197 billion in unpaid principal balance. Valon pivoting from mortgage operator to software and infrastructure provider, focusing on ValonOS as technology platform for the broader mortgage servicing industry.
• OwnwellminorGTM or Marketing Partner · 24 March 2026Property tax technology partnership to help homeowners reduce property taxes through an appeal service. Partnership addresses overpayment issues faced by homeowners across Carrington's servicing portfolio operating in all 50 states.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• NewRez (formerly New Penn Financial): NewRez is a major non-bank mortgage lender and servicer with significant non-QM origination and correspondent operations. Comparable in scale, correspondent/wholesale channel, and non-QM product mix.
• Verus Mortgage Capital: Verus Mortgage Capital is a leading non-QM investor and correspondent lender, purchasing non-conforming loans including non-QM, DSCR, and bank statement products. Directly comparable in non-QM correspondent purchasing model and product suite.
• Angel Oak Mortgage Solutions: Angel Oak Mortgage Solutions is one of the largest direct non-QM lenders in the US, offering bank statement, DSCR, and alternative documentation loans through wholesale and correspondent channels. Direct competitor in non-QM wholesale/correspondent lending with similar product positioning.
• A&D Mortgage: A&D Mortgage is a top wholesale non-QM lender serving mortgage brokers with bank statement, DSCR, ITIN, and alternative documentation products. Direct competitor in non-QM wholesale broker channel with overlapping product offering.
• Caliber Home Loans: Caliber Home Loans is a non-QM and non-agency mortgage lender with correspondent and wholesale channels serving similar alternative documentation and credit-challenged borrower segments. Overlapping product set in non-QM space.
• Deephaven Mortgage: Deephaven Mortgage is a non-QM lender focused on self-employed borrowers, real estate investors, and DSCR loans, distributing primarily through wholesale/broker channels. Direct competitor in non-QM with similar self-employed and investor focus.

Broad incumbents

• PennyMac Loan Services: PennyMac is a top-5 US mortgage servicer with $600B+ servicing portfolio and significant non-QM/correspondent lending operations. Comparable as a broad incumbent with non-QM, servicing, and correspondent capabilities at greater scale.
• Mr. Cooper: Mr. Cooper is the largest US mortgage servicer managing over $1 trillion in UPB with growing non-QM and correspondent origination. Broad incumbent comparable on servicing scale and government (Ginnie Mae) servicing exposure.

Emerging players

• Kiavi (formerly LendingHome): Kiavi is a private lender for real estate investors offering bridge and DSCR loans with technology-enabled origination. Comparable in DSCR investor lending and alternative documentation focus, though more direct-to-investor than correspondent.
• Defy Mortgage: Defy Mortgage is a non-QM lender offering bank statement, DSCR, and alternative documentation products through wholesale/broker channels. Emerging non-QM player with overlapping product mix and broker distribution model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/carringtoncorr
• Facebookfacebook.com/carringtoncorrespondent
• LinkedInlinkedin.com/company/carrington-correspondent
• Instagraminstagram.com/carringtoncorrespondent
• Pinterestpinterest.com/carringtoncorrespondent

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carrington Mortgage Services