Q: Can I provide more information to the applicant?
A: Yes. The new rule does not restrict your ability to communicate additional information about valuations to the applicant. For example, if you would like to explain to applicants why you did not use a valuation or provide more information about the type of valuations you did use, you can do so.
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: