Posted By: Soccer
Right to receive a copy of the appraisal - 01/12/12 01:30 PM
I do not read Reg B to require two copies of the appraisal being required to be given to the borrower(s). Can anyone tell me if that is a requirement and if so where I can find it.
Posted By: Rocky P
Re: Right to receive a copy of the appraisal - 01/12/12 02:38 PM
Information can be found in Reg B - 202.14. Nothing is mentioned about 2 copies.
Regulation
http://www.bankersonline.com/regs/202/202-14.htmlCommentary
http://www.bankersonline.com/regs/202/s202-14.html
Posted By: A_G
Re: Right to receive a copy of the appraisal - 01/12/12 03:17 PM
Who is telling you this is required?
Ask them to inform you of his or her cite!
Posted By: Soccer
Re: Right to receive a copy of the appraisal - 01/12/12 06:00 PM
Outside consultant that reviewed our policies!
Posted By: Always In Training
Re: Right to receive a copy of the appraisal - 01/12/12 06:04 PM
Is it in your policy to give 2 copies ?
Is it state law that they receive a copy of anything the bank requires them to sign? (It is in my state for 1 type of loan, and our forms provider has a place for the borrower to sign acknowledging receipt.)
Posted By: Soccer
Re: Right to receive a copy of the appraisal - 01/12/12 06:42 PM
Not in policy and I don't see it in state law.
Posted By: Andy_Z
Re: Right to receive a copy of the appraisal - 01/13/12 09:54 PM
Time to go back and ask the source for a cite.
It is similar to someone saying "tell me where it says I can't do this" and the correct response is "tell me where it says you can."