Carrington Wholesale

What Carrington Wholesale does

Carrington Wholesale is the wholesale lending division of Carrington Mortgage Services, LLC, a private mortgage lender headquartered in Orange, California that originates residential mortgage loans exclusively through licensed third-party originators (mortgage brokers) and correspondent lenders (community banks and credit unions). Founded in 2007 and operating under the DBA Carrington Wholesale, the company holds mortgage lender licenses in all 50 states plus Washington D.C. (NMLS #2600) along with federal FHA Non-Supervised Mortgagee Approval (#24751-0000-5) and VA Automatic Lender Approval (#902324-00-00), enabling it to operate as a nationwide wholesale channel.

The company's product portfolio spans three categories: Non-QM loans (Carrington Prime Advantage, Flexible Advantage Plus, Flexible Advantage, and Investor Advantage DSCR), government loans (FHA, USDA, VA and their streamlined/IRRRL variants), and conventional loans (conforming, Freddie Mac Super Conforming, HomeReady, HomePossible, and Texas Home Equity). Underwriting is positioned as a mix of manual expertise and proprietary workflow, with the firm emphasizing manual decisioning on complex credit and income files. Supporting technology includes the brokerIQ partner portal for loan submission and pipeline visibility, the processIQ human-assisted processing service, Quick Pricer and LoanIQ (the latter integrated with PricerOne) for scenario and pricing, plus a closing calendar and a library of training webinars.

Revenue is generated through net interest margin and gain-on-sale economics on mortgages funded via the broker and correspondent channels, with broker-facing pricing and rate sheets gated behind the brokerIQ login. Distribution is organized through a three-region account executive network (West, Central, East) and supplemented by partner programs including a Down Payment Assistance vendor offering and integrated credit and appraisal management vendors. The business is part of the broader Carrington Family of Companies, which also encompasses asset management operations and the Carrington Charitable Foundation.

Name

Carrington Wholesale

Legal name

Carrington Mortgage Services, LLC

Website

https://carringtonwholesale.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Carrington Wholesale is the wholesale lending division of Carrington Mortgage Services, LLC, originating Non-QM, government, and conventional residential mortgages exclusively through a nationwide network of licensed mortgage brokers and correspondent lenders.

Ownership category

akta.pro rank

Product category

Wholesale Mortgage Lending

NAICS

Real Estate Credit (522292)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Wholesale Mortgage Lending (Broker Channel) (FSALACAA)

akta.pro secondary industries

Non-QM & Specialty Wholesale Lending (Bank Statement/DSCR/Alt-Doc) (FSALACAD), Government Wholesale Lending (FHA/VA/USDA) (FSALACAE), Mini-Correspondent / Table Funding Programs (FSALACAC)

Keywords

• Wholesale mortgage lending
• Non-QM loan programs
• Government mortgage loans
• Conventional mortgage products
• Broker lending platform

Headquarters

HQ city

Anaheim

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Wholesale Mortgage Lending: Carrington originates mortgages through a network of licensed brokers and correspondent lenders. As a wholesale lender, it funds loans originated by third parties who use Carrington's products and guidelines, earning revenue through net interest margin on originated mortgages.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Carrington Wholesale operates as the wholesale lending division of Carrington Mortgage Services, LLC, funding residential mortgage loans originated by licensed third-party originators (brokers) and correspondent lenders. It offers a full suite of products including Non-QM loans (Prime Advantage, Flexible Advantage Plus, Flexible Advantage, Investor Advantage/DSCR), government loans (FHA, USDA, VA and their streamlined variants), and conventional conforming and affordable programs. Loan submission, pricing, processing support, and account management are delivered to broker partners through the proprietary brokerIQ portal, Quick Pricer, LoanIQ, and processIQ service.

Product overview

Carrington Wholesale is a wholesale mortgage lending division of Carrington Mortgage Services, LLC, offering a comprehensive suite of mortgage products through a platform-plus-partner model. The core offering consists of Non-QM loan products (Carrington Prime Advantage, Carrington Flexible Advantage Plus, Carrington Flexible Advantage, and Carrington Investor Advantage), Government Loans (FHA, USDA, VA), and Conventional Loans (Conforming, Freddie Mac Super Conforming, HomeReady, HomePossible, Texas Home Equity). The company supports its broker partners with technology tools including brokerIQ (their proprietary broker portal for loan submission, pricing, and monitoring), processIQ (expert loan processing services), Quick Pricer, LoanIQ, Closing Calendar, and educational webinars. The company specializes in serving self-employed borrowers, real estate investors, and those with complex credit or income scenarios who are often overlooked by conventional lenders.

Differentiator

Problem solved

Functional benefit

Brands

• Carrington Prime Advantage: Non-QM loan program for prime borrowers with flexible guidelines.
• Carrington Flexible Advantage Plus
• Carrington Flexible Advantage
• Carrington Investor Advantage
• ProcessIQ
• brokerIQ

Products and services

• Carrington Prime Advantage
• Carrington Flexible Advantage Plus An expanded Non-QM product offering flexible lending criteria to serve borrowers often overlooked by conventional lenders, with enhanced flexibility for various borrower profiles.
• Carrington Flexible Advantage Entry-level Non-QM product providing flexible underwriting options for borrowers with unconventional financial profiles, including a No Score Alternative path.
• Carrington Investor Advantage (DSCR) A Debt Service Coverage Ratio (DSCR) based Non-QM product designed for real estate investors, calculating qualifying income from rental property cash flow rather than personal income.
• FHA Loans Federal Housing Administration insured mortgages offering standard purchase and refinance options, made available to brokers for origination to eligible borrowers.
• FHA Streamlined Refinance Streamlined refinance option for existing FHA borrowers that reduces documentation requirements to facilitate rate-and-term refinancing.
• FHA 203H FHA loan product for disaster victims in designated areas, with simplified documentation to support recovery financing.
• USDA Loans United States Department of Agriculture Rural Development loans for eligible properties in qualifying rural areas, offered to brokers for origination.
• USDA Streamlined Assist Streamlined refinance option for existing USDA borrowers that reduces documentation requirements.
• VA Loans Veterans Affairs backed mortgages for eligible military service members and veterans, made available to brokers under Carrington's VA Automatic Lender Approval.
• VA IRRRL Interest Rate Reduction Refinancing Loan (IRRRL) for existing VA borrowers to lower their interest rate with streamlined documentation.
• Conventional Conforming Standard conforming mortgage product meeting Fannie Mae and Freddie Mac guidelines, made available to brokers for origination.
• Freddie Mac Super Conforming Conforming loans with higher loan limits for high-cost housing markets under Freddie Mac guidelines.
• Texas Home Equity Home equity loan products compliant with Texas-specific regulations, offered through the wholesale broker channel.
• HomeReady Freddie Mac affordable lending program for low-to-moderate income borrowers featuring flexible underwriting and down payment options.
• HomePossible Fannie Mae affordable homeownership program for first-time and low-to-moderate income buyers, available through the broker channel.
• brokerIQ Portal Proprietary online broker portal enabling loan submission, real-time pricing, rate sheet access, and loan monitoring for licensed third-party originators.
• processIQ Loan Processing Service White-glove loan processing service in which Carrington's processing team works directly with borrowers to move complicated and time-sensitive loans through the pipeline faster.

Segments4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Angel Oak Mortgage Solutions: A Non-QM-focused wholesale and correspondent lender that competes most directly with Carrington in the Non-QM specialty. Angel Oak offers similar products targeting self-employed borrowers, real estate investors, and other non-QM borrower segments through a broker channel.
• A&D Mortgage: A wholesale mortgage lender with significant Non-QM focus, including DSCR, bank statement, and other non-traditional products. A&D competes directly with Carrington Wholesale in the Non-QM wholesale broker channel.
• Rocket Pro TPO: The wholesale broker division of Rocket Mortgage, one of the largest U.S. mortgage originators. Rocket Pro TPO competes directly with Carrington Wholesale for broker-submitted loans, with significant technology investment and a multi-channel product set spanning QM and Non-QM.
• Homepoint: A wholesale and correspondent mortgage lender serving brokers and community banks with a broad product set. Homepoint competes with Carrington across conventional, government, and non-QM products in the wholesale channel.
• Caliber Home Loans: A large nonbank mortgage lender with wholesale, correspondent, and direct-to-consumer channels. Caliber offers a full product suite including Non-QM, making it a broad incumbent competitor to Carrington Wholesale.
• Deephaven Mortgage: A Non-QM specialist lender operating primarily through wholesale and correspondent channels. Deephaven offers bank statement, DSCR, and other non-traditional products similar to Carrington's Non-QM suite, making it a direct competitor in the specialty wholesale space.
• Verus Mortgage Capital: A Non-QM wholesale and correspondent lender specializing in DSCR, bank statement, and other non-traditional mortgage products. Verus is one of the leading Non-QM competitors in the wholesale channel and competes with Carrington's Investor Advantage and Flexible Advantage products.
• United Wholesale Mortgage (UWM): The largest wholesale mortgage lender in the U.S., operating an identical broker-only model serving third-party originators with proprietary technology, pricing, and a broad product suite. UWM is Carrington's primary direct competitor in the wholesale broker channel.
• loanDepot Wholesale (LDWholesale): The wholesale division of loanDepot, one of the largest U.S. mortgage originators. LDWholesale serves mortgage brokers with a full product suite including conventional, government, and non-QM products, directly competing with Carrington's broker channel.
• NewRez (formerly Shellpoint Mortgage Servicing/New Penn Financial): A wholesale and retail mortgage lender with a broad product suite including conventional, government, and non-QM. NewRez competes with Carrington in the wholesale broker channel with a multi-product approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance3 records

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 Wholesale