Disclosure and Delivery Requirements for Copies of Appraisals Under Reg B

A final rule revises Regulation B to implement an ECOA amendment concerning appraisals and other valuations that was enacted as part of the Dodd-Frank Act. In general, the revisions to Regulation B require creditors to provide to applicants free copies of all appraisals and other written valuations developed in connection with an application for a loan to be secured by a first lien on a dwelling, and require creditors to notify applicants in writing that copies of appraisals will be provided to them promptly. More information may be found in the Appraisal, Copies section of The Equal Credit Opportunity Act (Reg B) chapter of The Gold Book.