Carrington Mortgage Services announced the extension of its retail operation’s 25-Day Loan Closing program.

The program slashes loan closing times by almost 50% when compared to industry averages. And if that standard is not met, Carrington will apply a $500 closing cost credit to the loan once it closes.

Additionally, since the company started the program in February, the retail division has been closing most loans qualified for the program within 15 days.

"We’re proud of the successes realized through our 25-Day Loan Closing program, both in terms of meeting an obvious need within the market for expedited closings and pushing us to cut our processing times even further," said Ray Brousseau, executive vice president of Carrington Mortgage Services, mortgage lending division.