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Old 08-01-2012, 09:20 PM
 
17 posts, read 33,076 times
Reputation: 11

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I'm looking for CAIVRS expertise. We have a claim from an FHA loan that was a shortsale back in 2009. FHA connection provided a verbal date for the claim being opened as August 2009 in March (I was also told we would be eligible in August 2012), but two follow up calls from me have resulted in them not being able to provide a date for the claim at all (I am the consumer). Lender has also been working the issue trying to obtain a claim date from HUD for two months with no luck. No one, since my first call in March, has been able to provide a date for this claim. Has anyone ever experienced a situation where the claim date was not on the claim? Can you provide any touts on getting this resolved? We are Set to close in 4-5 weeks and if we can't get this claim issue resolved we will be forced to go conventional rather than VA. Also, do these claims generally fall off at a certain time of the month (i.e. the first day or last) or can they randomly fall off at any time in the month? Lender is rechecking CAIVRS authorization daily at this point, but any other suggestions on what we can do to escalate the issue with HUD and figure out a date would be most appreciated.
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Old 08-02-2012, 08:27 AM
 
Location: Richardson, TX
6,634 posts, read 10,327,409 times
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Do you have the HUD-1 Settlement Statement from the short sale closing?
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Old 08-02-2012, 10:01 AM
 
17 posts, read 33,076 times
Reputation: 11
Yes, the closing date on that transaction was June 23,2009. It has been provided to the Lender who has supposedly provided to HUD, but they have been having issues getting any sort of response either. Everyone is wanting to pass the buck. If they talk to their VA contact they say FHA, if they talk to FHA or HUd they say VA. I even had a rep at the FHA. connection line tell me that this is only applicable on FHA. Loans so we should be able to go VA which I know if not accurate information just from the research I've done online. It just seems asinine to me that HUD can have an open claim on this system with no date associated with it. As of yesterday the claim had not fallen off.
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Old 08-02-2012, 11:09 AM
 
Location: Richardson, TX
6,634 posts, read 10,327,409 times
Reputation: 13354
The servicer of the short sale loan had 30 days from the short sale closing date to file their claim with HUD.

Sometimes HUD doesn't pay the claim for several weeks or even months, and your 3 years starts from the date the claim was paid.

You could try calling your old servicer and ask what date their claim was paid. They might not want to tell you, but it never hurts to try.

It does seem very odd to me that nobody at HUD can figure out the date.
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Old 08-02-2012, 01:08 PM
 
17 posts, read 33,076 times
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Thanks for your response. I was not aware of the date stipulation the old servicer had to file the claim nor did I realize the clock began at their payment date. Thanks for that information! Our Lender had actually had this happen one other time and I have heard of a couple of other isolate incidents of HUD not being able to associate a date. Supposedly, it's rare and it's very difficult to get a resolution. In the case my lender had prior they could never get anything from HUD in writing regarding the claim date and it eventually just fell off one day. The Lender has even attempted pulling a Lexis Nexis proprty report to get a date with no luck.
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Old 08-02-2012, 01:11 PM
 
Location: Richardson, TX
6,634 posts, read 10,327,409 times
Reputation: 13354
Please come back and update us when you know more.
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Old 08-02-2012, 02:56 PM
 
17 posts, read 33,076 times
Reputation: 11
The servicer on the shortsale was Wells Fargo. I contact their shortsale group and they told me they cannot pull the loan information, probably due to age. The rep gave me a fax number to send a request to for information, however, the turn around time could be 2 weeks to 30 days. I'll give it a shot, but I only have until the 20th to make a decision on the direction we finance.
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Old 08-03-2012, 08:07 PM
 
Location: MID ATLANTIC
4,061 posts, read 8,798,603 times
Reputation: 3053
You or your lender need to contact the 800# with the CAiVRS. HUD is required to keep that information. If they cannot back it up, they have a problem (and ultimately, you).

Personally, I would politely insist the 800# provide you with a gameplan for a resolution. I'd give them 48 hours max, then I would be over at my Congressional Representative's office filing a Constituant's Request for Assistance. You will need to convey the urgency, what's at stake and what you have done so far to resolve the issue. You will need to provide details and contact information.

And, if the players cannot get the details in time for you to close, file a complaint at the Consumer's Financial Protection Bureau. They may as well start cleaning house with their own (sister agency). CAiVRS, oddly enough is not subject to the Fair Credit Reporting Act......but it needs to be.
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Old 08-04-2012, 09:22 AM
 
17 posts, read 33,076 times
Reputation: 11
SmartMoney, thank you for this! I will definitely give this a try as I agree this is unacceptable on HUDs part to not be able to provide a claim date. Have you actually had this scenario before? If so, did this method of getting it resolved work?
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Old 08-04-2012, 09:52 PM
 
Location: MID ATLANTIC
4,061 posts, read 8,798,603 times
Reputation: 3053
Quote:
Originally Posted by DaisyG.2012 View Post
SmartMoney, thank you for this! I will definitely give this a try as I agree this is unacceptable on HUDs part to not be able to provide a claim date. Have you actually had this scenario before? If so, did this method of getting it resolved work?
No, not exactly this scenario, but I had to get Gerry Connolly's office involved with an IRS transcript, required by most investors, a real deal killer. A vet had been overseas, missed filing taxes, wrote a contract (not realizing this would be a problem) and suddenly, the earnest money was at risk. What we were told would take 12 weeks by the IRS was pushed in a little over two weeks. This is why I say don't sit on your hands too long on this. Your Congressman's office can speed things up, but they can't pull a rabbit out of a hat.
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