d. CAIVRS Procedures (continued)

Step

Action

10

If you remain on the line you will hear, “To return to the main menu press zero.  If call completed, you may hang up now.  Thank you for using the HUD Voice Response System.”

·   Enter 0, or

·   hang up.

11

·   Enter the CAIVRS confirmation code on VA Form 26-6393, Loan Analysis, as evidence the screening was performed. 

·   Enter the code in the space to the right of the “NO” block in item 47.

·   For IRRRLs, enter the CAIVRS confirmation code on VA Form 26-8923, IRRRL Worksheet, beside the word “Note” which is located near the bottom of the form.

e. Applicant Presently Delinquent

Give full consideration to the CAIVRS information, and any subsequent clarifying information provided, in applying VA credit standards.

·   Consider the terms of any repayment plan in analyzing monthly debt payments.

·   Consider any delinquencies in determining creditworthiness.

CAIVRS information is only for the lender’s and applicant’s use in processing the loan application.  Only those persons having responsibility for screening applicants and/or co-obligors may use CAIVRS.  Any other use is unauthorized.