                                 CODE OF VIRGINIA

DISCLOSURE OF CHARGES FOR APPRAISAL OR VALUATION USING AUTOMATED OR OTHER
VALUATION MECHANISM (§ 55.1-906)

Any lender providing a loan secured by a first deed of trust or mortgage on real
estate containing not more than four residential dwelling units shall disclose
on the settlement statement or closing disclosure, as those terms are defined in
§ 55.1-1000, any fee charged to the borrower for an appraisal, as that term is
defined in § 54.1-2009, and any fee charged to the borrower for a valuation or
opinion of value of the property prepared using an automated or other mechanism
prepared by a person who is not licensed as an appraiser under Chapter 20.1 (§
54.1-2009 et seq.) of Title 54.1.

HISTORY: 2008, c. 400, § 6.1-2.13:3; 2010, c. 794, § 55-525.14; 2016, c. 619;
2019, c. 712.