Are you ready?

Changes to Reg B (ECOA) take effect January 18, 2014

§1002.14 Rules on providing Appraisals and other valuations.

The regulation reads, in part:

“A creditor shall provide copies of each such appraisal or other written valuation promptly upon completion, or three business days prior to the consummation of the transaction (for closed-end credit) or account opening (for open-end credit) whichever is earlier”.

The regulation goes on to say:

“The copies required by § 1002.14(a)(1) may be provided to the applicant in electronic form, subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (ESIGN Act).”

Today, RemoteDocs can safely and securely deliver your appraisals and disclosure documents in full compliance with the ESIGN legislation and we offer free redraws within 60 days of the original transmission!

Are you ready?
Changes to Reg B (ECOA)
take effect January 18, 2014

RemoteDocs Info