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Caivrs
If you have recently applied for a FHA Or VA Loan recently, you may have found that
a defaulted student loan has made that loan impossible to get. The reason is listed
below. Become educated and let Olympus Prime Inc. Financial go to work for you.
Credit Alert Interactive Voice Response System
(CAIVRS USDA, Rural Development Rural Housing Service October 1998) The CAIVRS system
was developed by the Department of Housing and Urban Development (HUD) to provide
Federal agencies the capability to identify loan applicants with delinquent Federal debt
from 17 Federal agencies and/ or loan programs. This included defaulted student Loans.
The Federal Housing Authority (FHA) and the Veteran Administration (VA) know that CAIVRS
is the only means of ensuring that an applicant is not delinquent on a Federal debt.
Credit bureaus only report the name of the lender financing the debt, not that of the
Federal agency guaranteeing the note. Therefore, delinquent Federal debt on guaranteed
or insured Federal loans will only appear with the associated Federal Government agency
through the CAIVRS database. The user completes a brief request screen with the applicant's
Social Security Number (SSN) or Tax ID number for upload to HUD. Each night HUD will process
the requests and provide the CAIVRS data for download. This information is given to your
loan broker This data will be automatically downloaded, formatted into a report and
distributed to the user at the requesting office.
Olympus Prime Inc. Financial can assist you in the facilitation of another federal loan by removing you
from the CAIVRS database. Simply fill out the enrollment form
to get started!
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