05-08-2013 01:15 PM
First I want to say THANK YOU to vlaw1084 for originally posting his experience here. Had he not taken the time last year to share what he went through, I'm not sure what I would've done. You have blessed my family just by sharing your experience. I hope by posting mine, I am able to help someone else through the process.
We applied for the consolidation on March 29 and overnighted all of the supporting documentation. We entered the certification Phase on April 3. On April 18th, the Summary Sheet was mailed. On May 3, the consolidation payment was made. The payment posted on myeddebt on May 7 (although they received the payment on May 6). The request to clear CAIVRS was sent on May 7. We were told it takes 24 - 48 hours to clear CAIVRS.
This is what I found out along the way
1. Don't go by what's on the website. If you call Direct Loan Consolidation and use their automated status update, you get the most up to date information.
2. You have to wait 15 days once in the Summary Phase and the payment is made COB on the 15th day.
3. myeddebt updates throughout the day (calling also gives you the most update information)
I was discouraged in the beginning but getting information here and staying on top of this process got us through in about 40 days.
i have one question because i did the same thing you did as far as the loan consolidation to clear my caivrs.
outside of not having a clear caivrs report; your credit and everything else was up to par in order to get an FHA loan? did you have any other hurdles?
05-08-2013 01:30 PM
I did alot of the work before applying for the loan; thought I had covered everything. DTI is low (1 credit card with 10% utilization). Nothing else on the report. Middle score is 695. That's why this CAIVRS thing was such a surprise. The loan is not on the report, but shows up in CAIVRS.
The processor did everything else while we were waiting for CAIVRS to update. So we should (according to the lender) be in underwriting by Friday.
02-08-2014 05:28 PM
I am trying to help someone clear caivrs but I cannot find a number for the department of ed for caivrs. According to their original student loan servicer they do not report to caivrs just NSLDS. When we did call DOE they said it would be the original loan processor. I am not sure what else to help them do at this point. The numbers we have called at DOE does not seem to be any help. Can anyone give a direct number the DOE for getting cleared of caivrs.
They are in the process of buying a house through FHA and need to get thier caivrs cleared. Although they are not sure if they are even on there but they are being reported right now as defaulted through NSLDS, but that is because they just finished rehab and the loan servicer has not sent the paperwork to update yet and it won't be sent until the end of the month but they do not have that much time. Their loan is do to go to closing by the end of the month.
Any help would be appreciated. Thanks
02-08-2014 07:29 PM
Hello, I will look through my paperwork to get that direct number for you, give me a few days as I out of town on business.
02-12-2014 07:06 AM
Thank you. Just wondering if you were able to find the direct number yet. My friend is freaking out. We have placed some other calls but everyone seems to be unaware of who to talk to.
I am usually pretty good at getting to who I need to find which is why they came to me but this one has me stumped.
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