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What is CAIVRS?

CAIVRS (Credit Alert Verification Reporting System) is operated by the U.S. Department of Housing and Urban Development (HUD) and is used to determine if a loan applicant has any federal debt that is currently in default or foreclosure or has had a claim paid by the reporting agency within the last three years.

Although CAIVRS may not identify all federal “delinquent debt” or “prior losses,” it is a good resource, especially for “delinquent debt.” Other sources to identify federal “delinquent debt” and/or “prior losses” include credit bureau reports as well as the borrower’s loan application.

Who Is Required To Use CAIVRS?

SOP 50 10 5(D), Subpart B, Chapter 2, which became effective October 1, 2011, added the following procedure for delegated 7(a) lenders to follow:

“Delegated lenders are responsible for checking the Credit Alert Verification Reporting System (CAIVRS) to determine if any of the individuals or businesses identified in paragraph (4) immediately above has either delinquent federal debt or a prior loss which would result in the small business applicant being ineligible for SBA financial assistance.”

CAIVRS allows the lender to enter multiple tax ID numbers (either SSN or EIN) to search for an outstanding delinquent federal debt or prior loss in connection with a loan application.

Lenders may obtain general information and instructions for accessing CAIVRS at: http://www.hud.gov/offices/hsg/sfh/sys/caivrs/caivrs_faq.cfm.”

Note: One question we have been receiving is, “What Lender ID number do we use when signing up for CAIVRS?” Answer: The EIN of the main bank location is to be used for the Lender ID number.

As always, if you have questions or need assistance, please contact Tom Daiber, Bob Newman or Bill Vickery.