Q: When do I have to start following this valuations rule?
A: You must follow the ECOA Valuations Rule for applications received on or after January 18, 2014. For example, an application received on January 17, 2014, for a loan not scheduled to close until February 2014, would not be covered by the ECOA Valuations Rule.
Information to support this Q&A can be found in Regulation B, which may be found here: https://www.ecfr.gov/current/title-12/chapter-X/part-1002
Additional support was located in the CFPB's ECOA Valuations Rule Small Entity Compliance Guide, which can be found by accessing the Bureau's Mortgage Resources webpage, which may be found here: