A first-lien application on a principal dwelling is withdrawn by the applicant 9 days after the appraisal was completed.
Correct Answer
A) The copy is still owed promptly, since the appraisal was already done
Copies of appraisals and other written valuations are provided promptly upon completion, and the duty survives a withdrawal or a denial. Other choices: a withdrawn application does not end every obligation, and this one outlives it; the $550 fee is a separate matter from delivery; and there is no 30-day timetable that delivers the copy with a file closure letter. See 12 CFR 1002.14(a)(1). Source: 12 CFR 1002.14(a)(1)
Why This Is the Correct Answer
Copies of appraisals and other written valuations are provided promptly upon completion, and the duty survives a withdrawal or a denial. Other choices: a withdrawn application does not end every obligation, and this one outlives it; the $550 fee is a separate matter from delivery; and there is no 30-day timetable that delivers the copy with a file closure letter. See 12 CFR 1002.14(a)(1). Source: 12 CFR 1002.14(a)(1)
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