Reply To: Which appraisal/valuation to provide?


If a valuation is developed in connection with the application, then you must provide a copy to the applicant, even if you do not use the valuation or you use it only for a limited purpose. If it there are multiple versions of the same valuation then you send the latest version, but what you are talking about sounds like different valuations so I think a copy of each would have to be sent to the applicant regardless of whether or not it was used.

As for your Loan Evaluation with Photos, if it doesn’t assign a value then IMO it wouldn’t be a valuation. If, on the other hand, it is an internal valuation of the subject property then a copy should be provided to the applicant. I’m just wondering how you can use the Loan Evaluation to determine if the HVE is reasonable if some sort of value isn’t assigned as part of the evaluation. It sounds similar to an appraisal review, is it? The SMEG states that an appraisal review that does not itself state a different estimate from the appraisal would not be a valuation you must provide to the applicant. It depends on what your Loan Evaluation does/contains in regards as to whether a copy should be sent.