| | An Automated Valuation Model is NOT an Appraisal and mostly done for refinances only. It is a computerized valuation syatem that is used to derive real property value. A large percentage of signings my company has closed, most lenders are preferring this model, as it saves the borrower hundreds of dollars.
You have the rigt to recieve to a copy of the automated valuation Model (AVM) result used in connestion with your application for credit. If you wish to receive a copy of the AVM you must send a formal request to your financing company.
Lender must receive your request for a copy of te AVM results no later than 90 days after lender provides notice of the action taken on your application or a notice of incompleteness, or in the case of a withdrawn application, 90 days after the withdrawal. Further note that release of the copy of the AVM result maybe conditioned upon payment of a FEE.
 |
|
| | |
