I am trying to determine if a file I am auditing should have a Notice of Right to Receive Copy of Appraisal. The loan is commercial construction for the purpose of building a single family spec home. The file contains an In House Property Evaluation completed by the lender and an old appraisal of the same house built in another town by the borrower. Is the Notice required for this scenario?

Is the old appraisal of the same house built in another town by the borrower used in the in house evaluation? Which are you relying on for the value?

Tina, the In House Eval. is based on the old appraisal.

This is not a renewal of an existing loan. IMO the notice is required.