12 C.F.R. §1002.14 - Rules on providing appraisals and other valuations
| Cite as | 12 C.F.R. §1002.14 |
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6 cases
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Guirguis v. U.S. Bank N.A., CASE NO. C18-1456-JCC
...for a loan that is secured or would have been secured by a first lien on a dwelling promptly upon completion." Id. § 1691(e)(1); see 12 C.F.R. § 1002.14. If a creditor violates any one of these four requirements, the aggrieved applicant may sue for the actual damages the applicant sustained......
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Wigod v. PNC Bank, N.A., 17 C 2025
...application on a weekend." When the drafters of Regulation B wished to measure time with reference to business days, they did so. See 12 C.F.R. § 1002.14(a)(1) (requiring creditors to provide an applicant with a copy of an appraisal "promptly upon completion [of the appraisal], or three bus......
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Minie v. Selene Fin. L.P., CASE NO. 3:18-cv-05364-RJB
...that the Plaintiff's ECOA claim should be dismissed because the Plaintiff makes no allegation that he applied for credit such that 12 C.F.R. 1002.14 of Regulation B was triggered. Id. They argue that the Plaintiff's FDCPA claims (asserted under 15 U.S.C. 1692e and 1692f) should be dismissed......
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King v. Police & Fire Fed. Credit Union, CIVIL ACTION NO. 16-6414
...appraisal is, in fact, performed, then the applicant has a right to receive a copy of any written report generated by the appraisal. 12 C.F.R. § 1002.14 provides:Page 17 Disclosure. For applications subject to paragraph (a)(1) of this section, a creditor shall mail or deliver to an applican......
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4 firm's commentaries
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Can You Keep Up? Emergence of CFPB and Significant Developments Transform Consumer Finance Landscape
...TILA, details how a creditor satisfies its obligation to determine whether a consumer has the ability to repay a mortgage loan. 12 C.F.R. §§ 1002, 1024, 1026 (Jan. 10, 2013, updated Sept. 12, 2013). This rule also addresses “qualified mortgages.” A creditor can only make a closed-end consum......
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Helpful Cases for Mortgage Servicers Attempting to Comply with Mortgage Servicing Regulations After a Bankruptcy Discharge
...Similarly, an ECOA statement of the estimated property value must be provided to the property owner without regard to bankruptcy. 12 C.F.R. 1002.14(a)(1); see ECOA Valuation Rule: Compliance Guide, Oct. 3, 2013, at 10 (“The rule covers applications for … loss-mitigation transactions, … cove......
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CFPB Releases Exam Procedures for New Mortgage Rules
...language regarding the requirement for creditors to provide applicants with a copy of all appraisals and other written valuations, under 12 CFR 1002.14. These new provisions essentially recite the language in the rule regarding timing for providing the copies, waiver of the timing requireme......
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CFPB releases exam procedures for new mortgage rules
...language regarding the requirement for creditors to provide applicants with a copy of all appraisals and other written valuations, under 12 CFR 1002.14. These new provisions essentially recite the language in the rule regarding timing for providing the copies, waiver of the timing requireme......