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Home » Lender Reps Ask CFPB to Reconsider Appraisal Rule
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Lender Reps Ask CFPB to Reconsider Appraisal Rule

July 29, 2013
Two industry groups have jointly written the CFPB requesting the bureau reconsider a final rule that requires lenders to disclose and deliver appraisals to consumers for both residential loans and commercial loans. The American Bankers Association and the Mortgage Bankers Association said the rule is going to create challenges for lenders when a dwelling is securing business credit, asserting it would place large burdens on lenders, as they may have to deliver thousands of appraisals to non-consumers in commercial settings...
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