New rules make it easier for homeowners to get appraisal information

A new federal rule will make it easier for homeowners and homebuyers to gain access to the information used by their mortgage lender when determining the amount of the loan that the lender will approve. Before the new rule, a mortgage applicant could only obtain a copy of the written appraisal by requesting it from the mortgage company; however, the mortgage company was not required to disclose other information it used in the evaluation process.  The new rule will add much more transparency to the mortgage lending process.

For the full story read, “New federal rule gives home buyers better access to appraisals.”