topic Re: CAIVRS/Rocket Mortgage help in Mortgage Loans

CAIVRS/Rocket Mortgage help

bdebtfree215 — Wed, 24 Mar 2021 13:41:04 GMT

Hi everyone,

My husband and I were approved for an FHA mortgage through Rocket Mortgage. We were about to receive our verified letter of approval but were told his previously defaulted loan is still showing on CAIVRS. He did the rehabilitiation process to get it out of default and it is now being serviced with FedLoan. The lender said, however, that it is FHA who needs to remove the CAIVRS entry and it takes about 45 days and they are backlogged. Ugh! Has anyone else had this problem? Should we just stop looking at houses until after this is done? I was really hoping to move within the next 45-60 days. I read someone that @VALoanMaster may be able to help. Please tell me this is true?

Re: CAIVRS/Rocket Mortgage help

ChiknNuggz — Wed, 24 Mar 2021 14:16:49 GMT

So i just finished rehabbing 2 student loans on 2/24/2021 and my new servicer is also Fedloan. However, the dept of edu is the ones that are responsible for getting the loans out of CAIVERS. Call th dept of edu and talk with the defaulted student loans people and they can remove you from the system. I dont think it takes 45 days tho bc when i called to ensure i was out they representative said sure i can take you out today but when he looked up my information i was not showing. How long ago did he complete his rehab? Also, there is a offical letter you can print our from Fedloan showing they have your loans and that they are NOT in defualt, alot of lenders will accept this.

Re: CAIVRS/Rocket Mortgage help

bdebtfree215 — Wed, 24 Mar 2021 14:54:10 GMT

Thanks. We just talked to Dept of Ed this morning and it looks like they missed 3 loans when removing the default status. The rep we talked to said he would send an email to the dept who updates it to have it expedited and apologized ugh! He had a total of 7 loans defaulted. They removed 4 back in Feb 2021 also but forgot 3. He told us to keep calling back to see if it was updated.

Re: CAIVRS/Rocket Mortgage help

IamWesty12 — Wed, 07 Apr 2021 15:31:30 GMT

I am thrilled to know you got through to Dept Of Ed. Do you mind me asking what the telephone number you used when contacting them? TY. I am scared to find out what the status is of my defaulted student loans as they are not even reporting on my credit reports and if I contact them will they all of a sudden show up? I am wondering myself if I should just try to go with a conventional mortgage as when I applied for the FHA/USDA this is where I found out about CAVIRS and the loans. Apparently if you go with a conventional mortgage as long as the defaulted student loans aren't on my credit report I should be good to go. Any info appreciated. TY.