We are doing a loan and we already have the home as collateral and have already provided the Appraisal Acknowledgement in a previous loan. We are doing another loan but taking the same piece of property and using the same appraisal should we still go by the 3 day prior to closing date on an Appraisal Acknowledgement for the new loan?

Appraisal Acknowledgement - what is that?

Appraisal Notice... I was using our terms for it sorry

OK - If you are referring to the disclosure under 1002.14(a)(2) there are no exceptions to delivery when a creditor receives an application for credit that is to be secured by a first lien on a dwelling. There are only exceptions to actually delivering an appraisal.

Are you secured by a first lien? If so, the Appraisal Notice would still be required. If you're talking about the "Appraisal Acknowledgment" that LaserPro (or some other LOS) produces, if there is no new appraisal developed, then there's no requirement to give the borrower a copy of it, so there's no need to give the "Appraisal Acknowledgment".

^^^Should clarify for non LP users.....the "appraisal acknowledgment" is just a document they produce where the borrower acknowledges receipt of the appraisal.