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what does caivrs stand for

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iluv19082 Joined: 13 Apr 2011 Posts: 1 1.25 Dollars($)	Posted: Wed Apr 13, 2011 9:32 am    Post subject: what does caivrs stand for Like 0 Dislike 0 what does gsa and ldp stand for
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Wed Apr 13, 2011 11:10 am    Post subject: Like 0 Dislike 0 CAIVRS is "Credit Alert Verification and Reporting System; used by FHA lenders so that they can verify that a prospective borrower hasn't defaulted on an existing government-backed loan, nor is in default currently. GSA is another tool that FHA lenders use - they look up on the "Excluded Parties List System" to ensure that no party to a transaction is on the list; they cannot lend if any are on the list. LDP is Limited Denial of Participation - another tool for lenders to use in screening borrowers, etc. If anyone who is a party to a transaction is on the list, they're not allowed to be party to such a transaction. I hope this helps. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Wed Apr 13, 2011 7:29 pm    Post subject: Like 0 Dislike 0 Hi iluv, Check out the given page for more information: http://www.mortgagefit.com/know-how/ldp-gsa.html Take a look at it. I hope it will help you. Thanks

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