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Does Section II of the Code require lenders to provide appraisals free of charge?

April 26, 2017appraisals charge code Free ii lenders require section

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Does Section II of the Code require lenders to provide appraisals free of charge?

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No. The Code requires lenders to provide a free copy of any appraisal report completed in association with the specific loan. Lenders may require the borrower to reimburse them for the cost of the appraisal.