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.
We at Nationwide Appraisal Network want you to have all of the tools necessary to fully understand your valuations.
The appraisal foundation has developed two comprehensive and easy to read guides for consumers for not only understanding different valuation products and what they mean, but to also gain clarity in understanding appraisals.
To view a quick guide to understanding valuation products, click the link below:
To view a quick guide to understanding appraisals, click the link below: