You have been dating your partner for the previous few years and today it looks like the time to be in down. I really donot understand if they know CAIVRS is bounce of any creditors which will give that loan. Should you not applied for an FHA loan the bank should not have drawn a CAIVRS in any way until they are currently working terrified because of the market problems. It is the only thing they normally have 40 to 60 lenders to send your mortgage to and they do plus they shop for you in the interest rates. A great Brokerage can often attempt to spot you inside the greatest product at the lowest rate available.
I am going through an using an USDA certain mortgage via a comparable circumstance from Bank. Unlike FHA USDA does not allow you to get another loan after 36 months, and allegedly home loan broker maintains the CAIVRS alert effective until you totally pay your debt off. It had been vandalized and had a lot of damage while the industry tanked while the bank placed to my house and the home depreciated in value greatly.
It's a tad bit more complicated than that-but with many creditors even the period frame will not be overridden by a high credit rating. Your Loan Originator should have been clear in advance that it'd be dangerous to acquire the mortgage. He must have (first of all)looked at the advantage to you... #1 need for authorizing financing is REWARD TO CLIENT!! If he was a skilled and honest Loan Officer he then instructed you that you simply could not have already been accepted and would have been upfront.