Reg B Valuations - What counts as an appraisal or other written valuation?

Compliance > Regulation B - ECOA

Q:  What counts as an appraisal or other written valuation?  (§ 1002.14(b)(3))

A:  A “valuation” is any estimate of the value of a dwelling developed in connection with an application for credit. 

Here is a nonexclusive list of valuations (Comment 14(b)(3)-1):

  • An appraiser’s report (whether or not the appraiser is licensed or certified), including the estimate or opinion of the property’s value
  • A document your staff prepares that assigns value to the property
  • A report approved by a government-sponsored enterprise for describing to the applicant an estimate developed by the enterprise's proprietary methodology or mechanism
  • Automated valuation model reports used to estimate the property's value
  • A broker price opinion prepared by a real estate broker, agent, or sales person to estimate the property's value


You must also share with the applicant any attachments or exhibits that are an integrated part of the valuation.


Keep in mind that if a valuation is developed in connection with the application, then you must provide a copy to the applicant, even if you do not use the valuation or you use it only for a limited purpose.

This can be found in the CFPB's ECOA Valuations Rule, Small Entity Compliance Guide -

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