February 13

Recent Compliance Issues: 1/10/14 – 1/23/14

Effective January 18, 2014, new appraisal rules kick in under Regulation B (Equal Credit Opportunity Act) requiring creditors to notify loan applicants of the availability, and automatically provide copies, of any appraisal done as part of the underwriting process. These include any internal valuation assessments or the results from on-line automated valuation models (AVM). Are.

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