We do not provide appraisal reports as a practice, so therefore our bank gives the Notice of Right to Receive a Copy of an Appraisal disclosure. In a recent compliance review, we were cited on the language contained in our disclosures. We did not state the time limit for the borrower to make the request(90 days) on all of our disclosures reviewed. As it turns out, the time limit was left off on all of our disclosures for loans done in the state of Maryland. We are an interbank state, banking in both Virginia and Maryland. In talking with LaserPro, they say that this requirement is not in the Maryland statute and therefore, they will not add the language to the disclosure. I am somewhat confused as I thought that Regulation B was a federal regulation. Help!!!!

I don't understand their "statute" reasoning either. The federal regulation requires the 90-day timeframe be included. I would get something in writing from LaserPro to submit to the auditors to see if they can make any headway.

We used LaserPro at my prior employer. We found them to be resistant to changing anything primarily because, they accidentally admitted, they were trying to phase out the product and sell a new software.

We pointed out, three years in a row, that the notary acknowledgements for LLC was completely wrong.