NEW -Early CAIVRS Removal.

[Cornjuice]

I'm just starting the mortgage process. I knew I might have a problem with CAIVRS because my brother had similar trouble a few years back and told me about it. I asked each of my mortgage people to check for it up front when shopping rates, and none of them had ever heard of CAIVRS. -strange-

Mortgage guy A said he would have someone from his office look into it, then came back later that day and said they didn't find anything. AWESOME.

Morgage guy B said his underwriter checked and found I WAS in the system, and wouldn't be eligible until Dec 2017. Up to this point, I had always heard that the consumer cannot check this database, and a mortgage guy has to check for you. NOT TRUE. You can call HUD/FHA directly and ask them. 8002255342. I called and confirmed I was listed. BUMMER.

My timeline looks like this:

Foreclosure Feb 2013

Property xferred to HUD June 2013

I assume claim paid Dec 2014 counting back from eligibility date.

22 months from foreclosure to claim paid. I figure I have a chance to overturn this.

I emailed answers@hud.com  and my congressman asking for the suppression/removal today. We'll see how it goes....

[Anonymous]

Hi Guys,

so I tried to apply for a home loan. I got my CAIVRS removed in August due to lender delay. But here is the kicker, the lender I applied through stated I had to wait until 2018 because my foreclosure was in 1/2015 although I am not on CAIVRS. Has anyone had success with getting a loan in this situation?

[Anonymous]

The first requirement is 3 years from transfer of deed out of your name unless the foreclosure was included in bankruptcy then it is 3 years from the bankruptcy and proof that the deed was transferred out of your name.

Second is the requirement for a clear caivrs but if the 3 years hasn't passed for "punishment" on the default then the clear caivrs doesn't really matter for government loans.

Hope that makes sense. Clear caivrs is required for government backed loans but time is required for both conventional and government backed loans after foreclosure .

[VALoanMaster]

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@Anonymous wrote:

Hi Guys,

so I tried to apply for a home loan. I got my CAIVRS removed in August due to lender delay. But here is the kicker, the lender I applied through stated I had to wait until 2018 because my foreclosure was in 1/2015 although I am not on CAIVRS. Has anyone had success with getting a loan in this situation?

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The legnth of time you have to wait before you're eligible to buy a home again after a foreclosure depends on the loan program & the circumstances surrounding your foreclosure.

FHA requires a 3 year wait after a foreclosure but there are exceptions to the rule that would allow you to buy in as little as 1 year after the froeclosure if the foreclosure was due to extenuating circumstances. If you filed a BK & included the mortgage, your 3 year wait doesn't start at the discharge of the bk, it's still going to start at the sale date.

VA - If you're eligible for a VA mortgage, there is only a 2 year wait after a foreclosure to buy. 

Conventional - Requires a 7 year wait after a foreclosure unless the mortgage was included in a BK 7 then it's 4 years from the discharge date of the bk.

USDA - The guidelines for USDA are very similar to FHA.

What type of mortgage did you apply for?

[VALoanMaster]

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@Cornjuice wrote:

I'm just starting the mortgage process. I knew I might have a problem with CAIVRS because my brother had similar trouble a few years back and told me about it. I asked each of my mortgage people to check for it up front when shopping rates, and none of them had ever heard of CAIVRS. -strange-

Mortgage guy A said he would have someone from his office look into it, then came back later that day and said they didn't find anything. AWESOME.

Morgage guy B said his underwriter checked and found I WAS in the system, and wouldn't be eligible until Dec 2017. Up to this point, I had always heard that the consumer cannot check this database, and a mortgage guy has to check for you. NOT TRUE. You can call HUD/FHA directly and ask them. 8002255342. I called and confirmed I was listed. BUMMER.

My timeline looks like this:

Foreclosure Feb 2013

Property xferred to HUD June 2013

I assume claim paid Dec 2014 counting back from eligibility date.

22 months from foreclosure to claim paid. I figure I have a chance to overturn this.

I emailed answers@hud.com  and my congressman asking for the suppression/removal today. We'll see how it goes....

---

Are you going for an FHA mortgageor VA?

If it's VA then you do not need to have your CAIVRS cleared but you will for FHA.

[Anonymous]

Our lender was able to do 3 years from the date of bankruptcy since our mortgage was included. They just needed the sheriffs deed to make sure it was transferred out of our name. We had a previous FHA and obtained a USDA. The loan is closed. There was a delay in filing a claim with HUD and so we obtained early suppression.

[Cornjuice]

Two weeks after I emailed HUD for an appeal, I still had not been answered. The home builder and their preferred lender cancelled my application and sold the house I had wanted to someone else because they thought CAIVRS could not be overturned. Last Thursday I went into my congressman's office and asked for help. They had me fill out a form including my CAIVRS number, and the appeal number, and this morning I got a call from HUD notifying me that CAIVRS has been removed. It took 3 weeks all together. Now I am looking for a new house to buy.

My advise to anyone else is to start the process by calling HUD to confirm if you are on CAIVRS, and get the listing number.

Then email HUD and attach the documents that prove the date of forclosure. Get forclosure records from your county clerk/courthouse.

HUD will reply with an email that contains your appeal number.

Finally take your documents, appeal number and listing number physically into the congressman's office.

The people in that office are there to help you deal with govt. agencies. They were very happy to help. Don't wait two weeks like I did. 

[Anonymous]

@Firemediii- You seem to know a lot about CAIVRS. Can you answer some questions for me? I just found out 2 days ago while trying to get pre-approved for a FHA loan that I'm on the CAIVRS list. I never heard of this list! I filed a bk chapter 7 which included my mortgage and my discharge date was 12/2013. The house sold at auction in 11/2014. My lender who was doing the pre-approval said that the claim was paid on 12/31/2015 and I had to wait 3 years and 1 day from this date to clear the CAIVRS list. Is there anything I can do to get off this list sooner? I just found out late Friday afternoon about this and have spent this weekend trying to find out all I can about this CAIVRS. Any advice would be greatly appreciated!!!

[Anonymous]

The best thing to do is to get your congress representative involved. The main reason ours was suppressed was because the lender (Wells Fargo) took too long to file a claim with HUD. There are time frames they must meet with regards to those claims.
Those time frames are listed by state on HuDS website. when did you move out/ turn the home over to the lender?

[Anonymous]

Seems like there was a significant delay in filing the claim with HUD. Over a year after being sold at auction. In our case they had 120 days to file a claim.