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Right to Receive a Copy of Appraisal

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  • October 3, 2011 at 4:57 pm EDT #2441
    cjernigan1211
    Participant

    Under the Dodd-Frack Act Summary of Compliance Provisions handout that was given during the first meeting, it talks about right to receive a copy of the appraisal on pages 82 and 83 for purposes of ECOA. With these changes regarding giving the cusotmer a copy of the appraisal no later than three days prior to closing the loan, are these changes now in effect or are they still proposals? It is my understanding this is still in the proposal stage, but I would like to confirm this with you. Thank you so much for your help. Have a great day.

    October 4, 2011 at 1:11 pm EDT #2891
    jholzknecht
    Keymaster

    ECOA has been revised, but no regulations have been published yet. You are not required to change anything at this point.

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