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NEW -Early CAIVRS Removal.

New Visitor

Re: NEW -Early CAIVRS Removal.

Getfitwithkba - Have you considered contacting Denver? To see if they may be able to help?

sassysweet08 - My lender checked me in the CAIVRS database today and I was clear.
Message 61 of 162

Re: NEW -Early CAIVRS Removal.

My congressmans office called me yesterday after I blasted them with a "not so nice" email to let me know that they had reached out to 3 different places. But she also told me that they had to go through Atlanta HUD because that is the region it was assigned to :-(  Apparantly, depending on where you live there is only 1 location that can help you. I also told her I didn't understand why so many others are having great success with this but not in my state or my representative. She said she was doing everything she could... Crossing my fingers that I don't lose my house!! 

Message 62 of 162

Re: NEW -Early CAIVRS Removal.

Here is an update on my situation. Good news is my congressmans office pulled through and got my CAIVRS clears instantly..BUT now my mortgage broker is saying she doesn't think it will go through because the deed was not transferred until 2015 and they have to go by that date!!! She said I did not meet "extenuating circumstances".. When I read the guidance on that it says "significant loss of income". Due to this nasty divorce, my household income was cut in half. She thinks it has to be due to job loss.

Can anyone add anything to this to help me out? I went through SO much trying to get the early CAIVRS removal and now this!!! I think this lady just does not like me or has it out for me in some way!!! Feeling defeated, yet again!!!
Message 63 of 162

Re: NEW -Early CAIVRS Removal.

Im so sorry things arent working out getfitwithkba can you go with an conventional loan they usually dont require a caivrs clearance, thats what I was prepared to do if things didnt work out with my caivrs.
Message 64 of 162

Re: NEW -Early CAIVRS Removal.

Thats awesome silverbullet, getfitwithkba if its cleared off the site then why cant they proceed? Thats stupid if fha cleared it then you should be good to go, did they pull your caivrs again? Did it still show, another alternative is to go with a new lender who knows nothing of your caivrs.
Message 65 of 162

Re: NEW -Early CAIVRS Removal.

The problem she said they are having now is because the bank did not transfer the title out of my name until 3/2015. According to HUD regulation, they have to go by that for the 3 year mark regardless of getting the CAIVRS removed unless it is for "extenuating circumstances" which based on the regs, divorce is not one of them.  The only other shot I have, supposedly, is to write a letter of explanation to the underwriters and ask them to grant me an exception based on the extenuating circumstance of "substancial household income loss beyond the borrowers control". So I did that and provided a copy of my 09 and 10 income tax returns to show that it dropped from 107K (with being maried to 50K) with being single again. Waiting to hear back. That is the only hope I have. If that doesn't work, I will have to wait until 2018 to qualify, which is 8 years after my BK... Also, my MLO says she is on my side, but based on everything I am seeing, I swear, it seems like she doesn't want this to go through... Unbelievable!!! 

Message 66 of 162
New Member

Re: NEW -Early CAIVRS Removal.

You might have to start over with a new underwriter who doesn't know anything about your CAIVRS. I had the same issue after mine was cleared but my underwriter called FHA to verify that my new loan would be "FHA insured". You should try to contact FHA to get them to send you an email or letter stating that you can proceed and that your loan would be insured. My loan officer stated that the problem is that some times even after CAIVRS is cleared, FHA still won't insure loans until after the 3 year period. The banks don't want to risk you defaulting again and having to bit the bullet on your loan.
Message 67 of 162

Re: NEW -Early CAIVRS Removal.

FHA is already saying that it is insurable at the time. Even the congressmans office has been talking to my MLO and forwarding information to her from FHA. They are saying that because my home was not transfered out of my name until 2015, even though the LisPends was filed in 2012, regardless of a cleared CAIVRS, the guidelines say 3 years after transfer date...  Its BS!!! 

Message 68 of 162
New Member

Re: NEW -Early CAIVRS Removal.

Do you know the HUD guideline that they are citing for the three year transfer date? 

 

Nevermind - found it.  4000.1 II.A.5.a.iii(I) 

 

Smiley Happy

Message 69 of 162

Re: NEW -Early CAIVRS Removal.

Yep, and I was looking off of the Letter 2013-26, page 2 on the 1st bullet for extenuating circumstances says "certain credit impairments were the result of Loss of Employment OR a "significant loss of Household Income beyond the borrowers control"... The MLO was saying it had to be in relation to a job loss but I said if you read the reg correctly it say OR, not AND... If I am wrong, I will take that, but I just think no one want to work my loan anymore, because it is that... Work... :-(  But I have done all the work so far, all they have done is collect the data and just say No... Ugh!!

Message 70 of 162