Federal Mortgage Law · 24% of the SAFE exammedium
Correct answer: Promptly upon completion, and no later than 3 business days before consummation
Under the ECOA Valuations Rule (implemented through Regulation B), lenders must provide applicants with a copy of all appraisals and written valuations promptly upon completion, and in any event no later than 3 business days before consummation of the transaction (or account opening for open-end credit). This right is automatic — borrowers do not need to request it. Providing the appraisal only after closing or only upon written request does not satisfy the rule. The 30-day timeframe referenced in the knowledge base relates to incomplete applications, not appraisal delivery.
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