Federal Mortgage Law · 24% of the SAFE exammedium
Correct answer: No later than 3 business days before consummation (closing)
ECOA Regulation B requires the borrower receive a copy of any appraisal or written valuation at least 3 BUSINESS DAYS before closing. This gives the borrower time to review the valuation and decide whether to proceed. The lender must provide this automatically — the borrower does not need to request it. If the appraisal comes in low, the borrower has time to renegotiate, provide additional data, or withdraw before closing.
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