Concerning the Right to Receive a Copy of an Appraisal, in Reg. B at 202.5a(2)(i) it states, "The notice shall specify that the applicant's request must be in writing, give the creditor's mailing address, and state the time for making the request as provided in Paragraph(a)(2)(ii) of this section." Our mortgage software prints out a notice that states exactly what the sample form in Appendix C states. It doesn't give an address, just "please write to us at the mailing address we have provided." Does the bank address have to be on this notice or can it be on another piece of paperwork? Also, are we required to list the information the customer needs to provide in the letter they send us?

IMHO the example form C-9 in appendix C is a poor one. The way I read the reg, the creditor's address needs to be on the form. Now that I have checked into this I've discovered our system wasn't printing out our zip code! We request that the customer send us their name, loan #, date of app, and address they want the appraisal mailed to. I'd say if you have another method of obtaining this info, or delivering the appraisal, you don't necessarily have to request the info on the notice.

Opinions expressed here are mine, not necessarily my employers. This is not legal advice.

The lead-in language to Appendix C states that: "Proper use of Form C-9 will satisfy the requirements of section 202.5a of this part." What constitutes "proper use" may be debated, but it would be very difficult for an examiner to criticize the language of the form given this statement that it "will satisfy" the reg.

What should have been provided to a customer in a situation where an in house "inspection" was done and there is a copy of part of an appraisal a few years old in the file? This is the purchase of rental property. Thank you.

I want to add something to the post above. Our notice states you have a right to abtain a copy of the appraisal report....provided that, you have paid for or are willing to pay for the appraisal. Should we be providing this to every real estate loan customer? Does the customer retain a copy of this notice for their records? Our notice does not have the bank name or address, just the persons name to contact and their telephone number. Is this being handled in the correct manner? Thanks so much.

Section 202.5a applies to credit secured by a lien on a dwelling (see 202.5a(c)) From your description, you should consider changing the language of your notice.

Let me get really specific: To determine the value an in house inspection was done by 2 loan officers and an appraisal done by real estate appraiser 4 years old were in the file. That appears to be what was used, is the notice of appraisal supposed to be supplied to the customer in this situation? The loan is for the purchase of a 1-4 family res. for investment purposes.

If you do not routinely provide a copy of the appraisal report you must give a proper notice on all loans secured by dwellings. "Appraisal report" means whatever documents that you relied upon in evaluating the value of the property.

Thank you for clarifying this issue! Now let me see what happens when I bring it up. Greatly appreciate the help!