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#2147433 - 09/25/17 04:54 PM ORE Appraisal
mdog76 Offline
Platinum Poster
Joined: Jan 2007
Posts: 645
If a customer purchases ORE property (1-4 family), is the bank supposed to provide the customer with a copy of the appraisal the bank had done? The appraisal was completed in June 2017.

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Lending Compliance
#2147445 - 09/25/17 05:10 PM Re: ORE Appraisal mdog76
Cornfed Turtle Offline
Diamond Poster
Joined: Mar 2006
Posts: 1,323
"...Somewhere in Middle Americ...
Are you financing the purchase of the ORE from your own bank? And what was the purpose of the appraisal from June?

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#2147449 - 09/25/17 05:14 PM Re: ORE Appraisal mdog76
mdog76 Offline
Platinum Poster
Joined: Jan 2007
Posts: 645
Yes we are financing the purchase. The purpose of the June appraisal was yearly ORE appraisal.

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#2147452 - 09/25/17 05:24 PM Re: ORE Appraisal mdog76
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 80,336
Galveston, TX
If you are using it for the loan, I would suggest that you give it to them. You are not going to find anything in Reg. B that is specific as to yay or nay .
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