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Reg B Rules on Providing Appraisals/Electronic

Question: 
My question is in regards to ​Regulation B, section 1002.14- Rules on providing appraisals. ​Section 1002.14 (a)(5)​ --​ C​opies in electronic form​ --​states the copies required by 1002.14(a)(1) (waiver and appraisal) may be provided electronically with customer consent. It does not state anything about the disclosure. Can the disclosure be delivered electronically?
Answer: 

by Randy Carey: 1002.4(d)(2) Disclosures in electronic form. The disclosures required by this part that are required to be given in writing may be provided to the applicant in electronic form, subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) (15 U.S.C. 7001 et seq.). Where the disclosures under §§ 1002.5(b)(1), 1002.5(b)(2), 1002.5(d)(1), 1002.5(d)(2), 1002.13, and 1002.14(a)(2) accompany an application accessed by the applicant in electronic form, these disclosures may be provided to the applicant in electronic form on or with the application form, without regard to the consumer consent or other provisions of the E-Sign Act.

Answer: 

by John Burnett: So, in some cases, you can e-deliver the notice of the applicants right to receive the appraisal without E-SIGN consent, but never the appraisal copy itself. It has to be paper unless you have E-SIGN consent.

First published on 01/29/2017

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