applying for FHA loan, clear CAIVRS but CR still shows default on rehabbed SL

[Anonymous]

Hi,

Wondering if anyone can give me info on my dilemma ...

I had some defaulted SL back in 2005.  I rehabbed them all, and they have since been reconsolidated and I have been in good standing on all loans since July 2006. The default status was removed from all CR  except Equifax.   We applied for an FHA loan, and my LO ran CAVIERS which came back clear (as it should!)

However, the dispute paperwork I filed thru my LO and lender was denied - they said that the loan numbers and amounts did not match those on the letter I obtained from the original SL company (Sallie Mae/NELA) indicating the loans rehabbed.  Now I'm worried our loan might be denied because of the erroneous default status on Equifax -- or does the clear CAIVRS report over-ride that? 

I've sent in a dispute directly to Equifax also.

Has anyone had any experience with this scenario? Advice? 

Thanks so much,

Daisy

[ShanetheMortgageMan]

Very odd that the default remarks weren't removed after the rehab was successfully completed, the comments almost always gets removed.  In this situation you'll need to get an updated letter with the correct loan number on it, or provide an explanation on why the account numbers are different (explanation probably will need to come from the student loan lender).  The balances aren't so important since there are almost always interest/fees tacked on that push the balance above the amount that is listed on the letters you'd have from the student loan lender.