What are the requirements for the borrower’s receipt of the appraisal?
AIR requires that a borrower be provided a copy of the appraisal no less than three business days prior to the closing of the loan, but does allow the borrower to waive this three-day requirement. • A borrower must be provided with a copy of the appraisal at least three days prior to closing unless the borrower signs a waiver stating that they do not wish to receive a copy of the appraisal. When do borrowers need to waive this requirement; can it be at loan closing? No. AIR requires lenders to provide the borrower with a copy of the appraisal at least three days prior to the loan closing unless the borrower waives the requirement. If the borrower waives the requirement the waiver must be obtained three days prior to the closing of the mortgage.. • Can a loan closing proceed where the lender in good faith and according to their policies and procedures sent a copy of the appraisal to the borrower in accordance with the three day requirement, but the borrower did not receive the copy of t
