How is the Notice of Right to Receive Copy of Appraisal selected?

The selection of the Notice of Right to Receive Copy of Appraisal is complicated, since it is required under two different regulations with different scope.

• Under Regulation B at 12 CFR 1002.14: The Notice of Right to Receive Copy of Appraisal is selected for any application of credit secured by a first lien on a dwelling.
• Under Regulation Z at 12 CFR 1026.35(c): The Notice of Right to Receive Copy of Appraisal is selected for a consumer-purpose, closed-end transaction secured by the principal dwelling in which the Higher Priced Mortgage Loan (HPML) threshold has been exceeded.
• The appraisal notice will also be included on the Loan Estimate and the Closing Disclosure.

The Notice of Right to Receive Copy of Appraisal document is found in the Processing phase on the Document Data and Print pages.