Q: A third-party provider says the valuation contains proprietary information that I cannot disclose to others. How can I provide a copy to the applicant?
A: Some providers of valuations, such as government-sponsored enterprises (GSEs), have developed special forms you can use to provide valuations to customers. Providing a copy on a GSE-approved form is an acceptable way to comply with the rule. Creditors should consult applicable GSE program guides to determine the procedures for providing consumers with copies of valuation estimates provided by GSEs.
This Q&A was located in the CFPB's ECOA Valuations Rule Small Entity Compliance Guide (which may be updated from time to time) that can be found by accessing the Bureau's Mortgage Resources webpage, which may be found here: