Lenders must give borrowers free copies of appraisals, CFPB says

01/20/2013 | AmericanBanker.com (free registration)

Mortgage lenders must give borrowers copies of appraisal reports free under a new rule from the Consumer Financial Protection Bureau. Lenders can still charge a reasonable fee for the appraisal itself. The rule, effective next January, came independently from the CFPB after new mortgage rules were issued last week by six other regulatory agencies.

View Full Article in:

AmericanBanker.com (free registration)

Published in Briefs: