Defaulted FHA Loans

Did you know that co-borrowers on defaulted FHA loans are not being noted and listed?  In some instances co-borrowers, on previously defaulted FHA loans, have been granted new FHA insured loans, as the primary borrower within days of foreclosure.  This is an interesting glitch in FHA’s CAIVRS system which provides lenders with qualification data on potential borrowers on FHA loans in process.