Does ECOA require appraisal disclosure?
Does ECOA require appraisal disclosure? The ECOA Valuations Rule requires creditors to disclose to applicants that they have the right to receive copies of appraisals and written valuations. The new rule applies to all written valuations (not just appraisals) that you develop in connection with an application for covered transaction. What is the HPML appraisal rule? The HPML Appraisal Rule applies to first-lien or subordinate-lien HPMLs that are closed-end and secured by the consumer's principal dwelling. It is a subordinate-lien mortgage with an APR that exceeds the APOR published by the CFPB at the time the APR is set by...