2023-18447: Privacy Act of 1974; System of Records
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Pursuant to the provisions of the Privacy Act of 1974, as amended, the Department of Housing and Urban Development (HUD) is issuing a public notice of its intent to create the Office of Single Family Program Development Privacy Act system of records, "Credit Alert Reporting Verification System (CAIVRS)", CAIVRS was developed by the HUD 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 on other debts owed to Federal agencies. The purpose of this system is to enable program agencies to prescreen their borrowers and to broaden the Federal Government's base in determining an applicant's creditworthiness. Some of these factors include: verifying loan applicants are not in default or delinquent on direct or guaranteed loans of participating Federal programs, providing authorized users with a means to prescreen applicants for Federal credit benefit in order to avoid extending benefits to individuals who are considered credit risks, and demonstrating to the public the importance of meeting Federal obligations and its commitment to collecting delinquent debt. CAIVRS is included in the HUD's inventory of record systems.
The agency’s own summary, as published.
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