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NEW -Early CAIVRS Removal.

Re: NEW -Early CAIVRS Removal.

myhelpfullender-I went to another Mtg company to have them try to do a "rescue"  and the underwritting team said no to the loan right off the bat, without even pulling my credit because the deed was not transfered until 3/15 even though the BK was in 10, and foreclosre started in 2012. Luckily the builder agreed to do a lease to own with me, so I will not be out on the street! They said they could probably do the loan in 1 more year. If you want to send me email or contact info, I would be happy to talk to you. I would much rather own my property than rent... :-D

Message 71 of 162
Established Contributor

Re: NEW -Early CAIVRS Removal.

Well add us to the list of hopefuls shot down with caivrs. We were discharged from chapter 7 12/12 and gave the property back to Wells Fargo 4/13 they didn't transfer the deed until 5/14 and we do not know if they filed a claim or when since Wells Fargo doesn't even have record of our account any longer. Trying to navigate the channels to get more information. It is like some secret society with getting Caivrs information.
Message 72 of 162
New Visitor

Re: NEW -Early CAIVRS Removal.

Well Im at the end of my rope my FHA loan isn't going to be approved for 3yrs because of the bank waiting 3yrs to file a claim, HUD told me to file a request with the homeownership center and they would get back to me. This is so frustrating it's like they are holding my life hostage! Conventional isn't going to be an option for me because of it only being three yrs since the foreclosure this a very rough situation.
Message 73 of 162
Established Contributor

Re: NEW -Early CAIVRS Removal.

After shooting emails and letters to everyone that anyone had  ever mentioned on here, we got the call today from Washington D.C that our Caivers is CLEAR!!! WHOOT WHOOT. We are one step closer to our closing date of July 11th!

Message 74 of 162
New Visitor

Re: NEW -Early CAIVRS Removal.

He is my story, not sure if CAIVRS removal is right for me.

 

Foreclosure started 3-5-12, when I got the letter, I started my Chapter 7 bankruptcy, it was discharged (with the mortgage included) on 8/14/12.  I moved out after the discharge, and the house was sold on 3/17/16.

 

Would I stand a chance?  Is that enough info to make a decision?

 

Thanks!

Message 75 of 162
Established Contributor

Re: NEW -Early CAIVRS Removal.

Yes. Contact your congressman though because HUD homeownership was useless. They just cannot do much. Our timeline was almost identical with the exception that our home was sold sooner (4/14) they suppressed our CAIVRS because of the delay in filing and moving to sell by Wells. There are strict timelines lenders need to follow.

Odd to me personally was that wells filed for insurance first (collect the entire remaining loan amount) and then sold the home which gave them nearly an additional 55,000. We bought the home for 93,000. They collected 79,000 from HUD and sold after for 55,000.

Making money on our dream falling apart.
Message 76 of 162
New Visitor

Re: NEW -Early CAIVRS Removal.

When you went to the congressman office what did you say? I am scrambling trying to get the docs I need to have my husband go to the congressman tomorrow. I am assuming i need to get the docs from the clerks office in the town the home was in. Hoping i can do that online tomorrow. We've gone through the wholeshortsale process, finally got their bank approval and now our lender is not looking promising. Has anyone use a congressman in Fl and had great success?
Message 77 of 162
Highlighted
Established Contributor

Re: NEW -Early CAIVRS Removal.

I actually didn't end up having to produce documentation beyond the letter that gave my congress man permission to speak about my case with the entities involved. I did lay out all the facts in the letter and I believe that I may have sent the sheriffs deed and bankruptcy discharge paper. My congressman contacted HUD Washington and they apprently researched it all as they summed up their findings in the suppression approval letter.

HUD Atlanta required us to send them proof of our identity before they would even talk to us and they preferred everything to go through the lender. It was a cluster.

We are grateful for our congressman.
Message 78 of 162
New Member

Re: NEW -Early CAIVRS Removal.

Hey all, 

I went through this last year and was able to get a VA mortgage in October.  We decided to do a VA Refinance for low rates and were supposed to close on Monday. The lender drops CAIVRS on me 2 biz days before closing and since that time I've been going through the whole process I did last time!  I thought once cleared, all is well but apparently not true. Today I was told the bank has closed my application and refuses to work with me even though my request has been escalated for a new "Determination Letter" with HUD.  QUESTION:  Does this sound right?  I just noticed another post with HUD reference that mentions something about streamlines not requiring CAIVRS.  Anybody out there know?

 

"Are there any exceptions that would allow a new FHA-insured mortgage for borrowers reported in the Credit Alert Verification Reporting System (CAIVRS)?

Mortgagees (Lenders) must screen all borrowers, including nonprofit agencies acting as a borrower, using CAIVRS (except on streamline refinances)."
 
 
Message 79 of 162
Established Contributor

Re: NEW -Early CAIVRS Removal.

A VA loan is different than a FHA loan, maybe look at the VA streamline refinance handbook.
Message 80 of 162