Regulations state that the lender must deliver the appraisal to applicant at least 3 days before closing. Does this mean we can close on the 3rd day or do we need to wait until the 4th day?
How long should the appraisal request log/sheets be kept? The logs are saved on our system. But we have a paper copy in notebooks.
Is the Reg B Appraisal Notice required for loans to builders of residential properties?
Regarding the new ECOA Valuation Rule that amends the appraisal provision of ECOA's Regulation B. Would it apply to home builders? I can't find anything in the regulation that it wouldn't.
Does the new appraisal rule under the ECOA apply to Home Builders?
We do a lot of investment (rental) property financing as commercial loans. They are 1st lien, 1-4 family dwellings. We do not have an official commercial application. Trying to determine if we need to send or give the customer the Appraisal Notice, and if so, 3 days from what date since there is no application?
Reg B - appraisals - can we email a copy of the appraisal to the Borrowers as long as it is secured and we get a read receipt for the email? How long after this do we need to wait to close the loan?
Where may I obtain a sample of the Right to Receive a Copy of Appraisal form, or at least the recommended language please?
What is the required timeframe to provide Credit Score Disclosure; Right to Receive Copy of Appraisal to borrower for a Land Only; Consumer Purpose; with Collateral of the Land?
Is there a regulatory requirement to have appraisal engagement letters?