Defaulted Student Loans, Federally Guaranteed Student Loans

[elitesystem]

If you are attempting to obtain any Federally backed Mortgage, FHA/VA/USDA, a defaulted Federally Guaranteed Student Loan will automatically disqualify you. There is no statute of limitations on defaulted student loans. This is true no matter what type of Federally Guaranteed Student Loan you have. When a government backed/guaranteed loan of any type goes into default, it is listed in CAIVRS until the loan is satisfied. All FHA/VA/USDA mortgage applications check CAIVRS for defaulted loans. It does not matter whether the defaulted loan is listed on a credit report or not. It will be in CAIVRS.

CAIVRS stands for: Credit Alert Interactive Voice Response System and is accessed on HUD's website. CAIVRS is for professionals only. CAIVRS was developed by the Department of Housing and Urban Development in June 1987 as a shared database of defaulted Federal debtors, and enables processors of applications for Federal credit benefit to identify individuals who are in default or have had claims paid on direct or guaranteed Federal loans, or are delinquent or other debts owed to Federal agencies.

[pranith]

oh! this information is well-known by me .
but in the above u have mentioned the word caivrs what does it means
?