Posts Tagged: borrower

To Text or Not to Text: Keeping a Personal Touch

Posted by & filed under Blog.

Valuation Management Group received a recent call from one of our clients expressing concern that their borrower was contacted by the appraiser via a text message and not with a phone call. The client’s concern was that a phone call should have been made first, as a text message was perceived by their client as… Read more »

New Rule Requires Lenders to Provide Free Copy of Appraisal

Posted by & filed under News.

On Friday, the Consumer Finance Protection Bureau announced they have amended ECOA, Regulation B. The revisions to Regulation B require creditors to provide applicants with free copies of home appraisals before closing, and require creditors to notify applicants in writing that copies of appraisals will be provided to them promptly. The rule will go into effect… Read more »