Posted By: Bec
Ordering Evaluation to update values - 03/21/17 08:56 PM
In a situation where an evaluation is ordered to update values on a special asset credit, not necessarily for renewal or refinance, would we need to send out a notice of right to receive copy of appraisal?
Posted By: rlcarey
Re: Ordering Evaluation to update values - 03/21/17 10:01 PM
No application for credit - no notice:
1002.14—Rules on providing appraisals and other valuations.
(a) Providing appraisals and other valuations. (1) In general. A creditor shall provide an applicant a copy of all appraisals and other written valuations developed in connection with an application for credit that is to be secured by a first lien on a dwelling.