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Any info would be great! We are trying to purchase a house and were set to close this week when our lender found that I am on the CAIVRS list. Unfortunately, I had let my student loan default...so I contacted the financial group dealing with this, accepted a payoff and paid it off this past Thursday. The financial group said it would take 2-3 days to clear and to call them on Monday to get the Dept of Ed number and it will be up to them when it comes off the CAIVRS list. Anybody have any experience with this or how long I will remain on CAIVRS? Thanks
CAIVRS is a system that lenders are required to check whenever a client is going with a government loan (FHA or VA). The government can keep it on there as long as they'd like or until you satisfy the defaulted loan. conventional doesn not check CAIVRS
I also have something on my CAIVRS, but I don't know what and neither does my lender.
How can I find out what is holding me up??
It's pretty simple for your lender to find out. When they pulled your Caivrs online and it showed you do not Caivr there will be a phone number to call and a case number along with other info to reference. Tell them to simply enter your soc again and print out the findings from the FHA connection. I have only had two people not CAIVR in the last 17 years and both were for student loan defaults and both were cleared up pretty easily. Good luck!
From US Dept of Ed web site: Repaying Student Loans Held by the U.S. Department of Education (http://www.ed.gov/offices/OSFAP/DCS/repaying.html - broken link)
"I'm applying for a HUD (FHA) or VA loan and I don't qualify because of my defaulted student loan."[LIST][*]Your options for reinstating your eligibility to receive a HUD (FHA) or VA loan are: repay or satisfy the loan in full; consolidate your loan through the Federal Family Education Loan [URL="http://www.ed.gov/offices/OSFAP/DCS/consolidation.html"](FFEL) loan consolidation program[/URL] or the [URL="http://loanconsolidation.ed.gov/"]William D. Ford Direct Loan Program [/URL](Direct Loan Program); or rehabilitate your loan through our [URL="http://www.ed.gov/offices/OSFAP/DCS/rehabilitation.html"]loan rehabilitation program[/URL]. Since defaulted student loans have no statute of limitations for enforceability, you would remain ineligible to receive a HUD or VA loan until you complete one of the options mentioned above.[/LIST]Good luck.
Hi, My mortgage processor pulled a cleared CAIVRS, but there is a note that states: Case Warning: Borrower(s) have CAIVRS alert and/or mortgage credit sanction. My CAIVRS recently cleared after the 3 year waiting period, so we should be good to go, but she does not know why that note appears. Any ideas?
Last edited by Green Irish Eyes; 10-08-2009 at 04:43 PM..
Reason: Not sure what the link was supposed to be, but it doesn't work.
hi we are trying to close on our home but we cant until hud removes caivrs it shows it was removed but the underwirters wont let us close until someone from hud fax over a clear to close proving it off has anyone else ever dealt with this who did you contact through hud please help
hi we are trying to close on our home but we cant until hud removes caivrs it shows it was removed but the underwirters wont let us close until someone from hud fax over a clear to close proving it off has anyone else ever dealt with this who did you contact through hud please help
On the Caivr's printout it shows a phone number to contact for your case. Ask your lender to send it to you so you can contact them.
At what point is CAIVRS pulled? We have been approved through desktop underwriter gave our broker all the paperwork this weekend. How would I/could I find out if I am on CAIVRS? What sort of things are on that? This whole process is so scary.
Everywhere I have worked, CAiVRS is pulled immediately upon loan appplication. But, not everyone pulls it first.
As a prior poster stated, there is an 800 # on the alert. A simple telephone call will provide all the information needed.
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