Effective January 2014, rules adopted by the Consumer Financial Protection Bureau (CFPB) allow borrowers to receive copies of all valuation products ordered with their loan (even if the lender did not rely on them three days prior to closing.) Various valuation products (appraisals, AVMs, BPOs) may produce different values and cause confusion for borrowers.
As most of us are aware the Consumer Financial Protection Bureau (CFPB) is amending Reg Z to implement amendments to the Truth in Lending Act (TILA) mandated by the Dodd-Frank Act, which leaves loan originations in very familiar territory. Asking them same questions they have been asking for several years now “How does this affect me”? The answer is just as confusing as ever. Let’s try to make some of…
Texas recently conducted a study on Appraisal Management Companies and Real Estate Appraisers. 1584 appraisers and 55 AMCs were surveyed on various aspects of valuation services. The questions were designed to determine the following: Clearly distinguish between the fees paid to appraisers by Appraisal Management Companies and fees paid by non-AMC clients for residential appraisals. Capture any difference in fees paid by property type: single family, condominium, size or square…
ABOUT NAN
At NAN, we believe in technology, communication and accountability. Everything we do is with the best interests of our customer in mind.
Days of operation: Monday – Friday
Hours of operation: 8:30AM – 9PM EST
Toll Free: 888.760.8899
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3180 Curlew Rd, Ste. 107
Oldsmar, FL 34677
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