Lenders To Start Providing Free Copies Of Home Appraisals

Law360, New York (January 18, 2013, 2:35 PM EST) -- The Consumer Financial Protection Bureau said Friday that lenders will have to provide potential homebuyers with free copies of appraisals and any other written home-value estimates, although banks and other lenders will still be able to charge for conducting the estimates.

Required by the Dodd-Frank Act, the rule is meant to give borrowers a clear picture of the price of their new home before the deal closes and is part of a broader effort to bring more transparency to the mortgage market, the CFPB said....
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