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Does the consumer own their appraisal because they pay for the appraisal(s) when applying for loans to purchase or refinance real estate?

April 26, 2017appraisal consumer Loans pay purchase Real Estate Refinance s

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Does the consumer own their appraisal because they pay for the appraisal(s) when applying for loans to purchase or refinance real estate?

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The appraisal is legally owned by the lender – unless the lender “releases interest” in the document. However, under the Equal Credit Opportunity Act, consumers may obtain a copy of the appraisal report from the lender who ordered the report.