What is the ECOA Valuations rule?
ECOA stands for “Equal Credit Opportunity Act” and among other things, the rule guarantees that you’ll receive a copy of the appraisal at least 3 business days before closing. When you sign the ECOA Valuation Waiver, you are only waiving the timeline requirement. You will still receive your copy of the appraisal. Loosening up the timeline restriction helps make sure the closing takes place on time.
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