Comment for 1003.4 - Compilation of Reportable Data
or loan-to-value ratios, a determination of need for private mortgage insurance, or a satisfactory appraisal
- 1003 (Regulation C)
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or loan-to-value ratios, a determination of need for private mortgage insurance, or a satisfactory appraisal
For example, if the institution relies on an appraisal or other valuation for the property in calculating
person that reasonably believes an appraiser has not complied with the Uniform Standards of Professional Appraisal
consummated (for closed-end credit) or in which the account is being opened (for open-end credit), if an appraisal
These rules are substantively identical to the Board's and the OCC's higher-priced mortgage loan appraisal
that may be imposed, such as minimum, fixed, transaction, and activity charges; required insurance; or appraisal
During the time the broker has the application, it might request a credit report and an appraisal (or
FIRREA), as amended (12 U.S.C. 3339), that relate to an appraiser's development and reporting of the appraisal
Value” where there is no appraisal.
Credit report and appraisal fees imposed to investigate whether a condition permitting a freeze continues
For example, if an increase in the “Total Closing Costs” is attributable only to an increase in the appraisal
For example, if an increase in the “Total Closing Costs” is attributable only to an increase in the appraisal
specifics of an acceptable short sale transaction may be subject to further information obtained from an appraisal
(B) Inability to determine prior sale date or price - modified requirements for additional appraisal.
Determining acquisition dates and prices used in the analysis of the additional appraisal.
For example, assume that borrower-paid property appraisal and inspection fees that are excluded from
First, the creditor or its agent must identify recent rates paid for comparable appraisal services in
(4) The lender is not permitted to charge, as a condition for providing a GFE, any fee for an appraisal
total origination services, as well as a direct up-front charge for reimbursement of credit reporting, appraisal
other charges, such as broker fees, application and commitment fees, or fees for a title search or appraisal
Fees to be disclosed include appraisal, credit report, government agency, and attorneys fees.
information about recent rates by using a reasonable method that provides information about rates for appraisal
The mortgage broker is not permitted to charge, as a condition for providing a GFE, any fee for an appraisal
All fees, including credit report fees and appraisal fees, must be refunded whether such fees are paid
For example, when a financial institution obtains an appraisal, an automated valuation model report,