12 CFR §1002.14 — Rules on providing appraisals and other valuations
Regulation B §1002.14 sets [LENDER]'s borrower-copy-of-appraisal obligation for first-lien-on-a-dwelling credit (delivery timing, right-to-receive notice, no-charge rule, withdrawn/denied/ incomplete coverage, electronic-copy permissibility).
Verbatim regulatory text
Verbatim provisions from 12 CFR §1002.14 — Rules on providing appraisals and other valuations — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
12 CFR §1002.14(a)(1) — Providing appraisals and other valuations: in general
(a) Providing appraisals and other valuations —(1) In general. A creditor shall provide an applicant a copy of all appraisals and other written valuations developed in connection with an application for credit that is to be secured by a first lien on a dwelling . A creditor shall provide a copy of each such appraisal or other written valuation promptly upon completion, or three business days prior to consummation of the transaction (for closed-end credit) or account opening (for open-end credit), whichever is earlier.
12 CFR §1002.14(a)(2) — 3-business-day disclosure of right to receive appraisal
(2) Disclosure. For applications subject to paragraph (a)(1) of this section, a creditor shall mail or deliver to an applicant , not later than the third business day after the creditor receives an application for credit that is to be secured by a first lien on a dwelling , a notice in writing of the applicant 's right to receive a copy of all written appraisals developed in connection with the application . In the case of an application for credit that is not to be secured by a first lien on a dwelling at the time of application , if the creditor later determines the credit will be secured by a first lien on a dwelling , the creditor shall mail or deliver the same notice in writing not later than the third business day after the creditor determines that the loan is to be secured by a first lien on a dwelling .
12 CFR §1002.14(a)(3) — No charge for copies; reimbursement of cost permitted
(3) Reimbursement. A creditor shall not charge an applicant for providing a copy of appraisals and other written valuations as required under this section, but may require applicants to pay a reasonable fee to reimburse the creditor for the cost of the appraisal or other written valuation unless otherwise provided by law.
12 CFR §1002.14(a)(4) — Withdrawn, denied, or incomplete applications
(4) Withdrawn, denied, or incomplete applications. The requirements set forth in paragraph (a)(1) of this section apply whether credit is extended or denied or if the application is incomplete or withdrawn.