According to ECOA, how quickly must the appraisal be delivered to the borrower when they have waived the early disclosure and the loan is denied?

According to ECOA, how quickly must the appraisal be delivered to the borrower when they have waived the early disclosure and the loan is denied?

• A. 3 days
• B. 10 Days
• C. 30 Days
• D. 60 Days

Answer: (C)

When a borrower waives the option for early disclosure, the appraisal must be delivered within 30 days. This 30-day window matches the general timing for ECOA adverse-action notices and for delivering the appraisal that was used in the credit decision. The 3-day timeline applies only if the borrower did not waive the early disclosure, so it isn’t applicable here. The 10-day or 60-day options do not align with the ECOA delivery timelines for this scenario.

When a borrower waives the option for early disclosure, the appraisal must be delivered within 30 days. This 30-day window matches the general timing for ECOA adverse-action notices and for delivering the appraisal that was used in the credit decision. The 3-day timeline applies only if the borrower did not waive the early disclosure, so it isn’t applicable here. The 10-day or 60-day options do not align with the ECOA delivery timelines for this scenario.