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Automated Monitoring Systems: Implementation to Validation
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#1649837 - 01/12/12 08:30 AM Right to receive a copy of the appraisal
Soccer Online
Platinum Poster

Registered: 01/05/10
Posts: 541
Loc: Utopia
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.
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#1649918 - 01/12/12 09:38 AM Re: Right to receive a copy of the appraisal [Re: Soccer]
Rocky P Offline
Power Poster

Registered: 06/24/03
Posts: 5183
Loc: South Carolina
Information can be found in Reg B - 202.14. Nothing is mentioned about 2 copies.

Regulation
http://www.bankersonline.com/regs/202/202-14.html

Commentary
http://www.bankersonline.com/regs/202/s202-14.html
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#1649995 - 01/12/12 10:17 AM Re: Right to receive a copy of the appraisal [Re: Soccer]
A_G Offline
10K Club

Registered: 07/21/04
Posts: 18954
Who is telling you this is required?

Ask them to inform you of his or her cite!
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#1650231 - 01/12/12 01:00 PM Re: Right to receive a copy of the appraisal [Re: Soccer]
Soccer Online
Platinum Poster

Registered: 01/05/10
Posts: 541
Loc: Utopia
Outside consultant that reviewed our policies!
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#1650235 - 01/12/12 01:04 PM Re: Right to receive a copy of the appraisal [Re: Soccer]
Always In Training Offline
Platinum Poster

Registered: 07/11/06
Posts: 722
Loc: Where the Green Grass Grows
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.)

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#1650267 - 01/12/12 01:42 PM Re: Right to receive a copy of the appraisal [Re: Soccer]
Soccer Online
Platinum Poster

Registered: 01/05/10
Posts: 541
Loc: Utopia
Not in policy and I don't see it in state law.
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Everything happens for a reason

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#1651175 - 01/13/12 04:54 PM Re: Right to receive a copy of the appraisal [Re: Soccer]
Andy Z Online


10K Club

Registered: 10/27/00
Posts: 25489
Loc: On the Net
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."
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AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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