The Consumer Financial Protection Bureau's new notification requirements for property valuations have rekindled old industry debates over appraisal alternatives and are expected to add costs along with yet another layer of mortgage litigation risk.

Since Jan. 18, the CFPB's amendment to Regulation B hasrequired lenders to send loan applicants free copies of "all written property valuations" created to support a mortgage credit application. That includes appraisals, automated valuation models and broker price opinions.

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