Common use of ECOA Compliance Clause in Contracts

ECOA Compliance. If Licensee has determined that it is required by the Equal Credit Opportunity Act (ECOA) to provide a Customer a copy of certain property valuation information Licensee has obtained using the Licensed Application, Licensee must provide the Customer a document (the “Valuation Disclosure”) that contains the following information extracted from the SMDU response file: the standardized address, predicted value, confidence score and response date/timestamp. The Valuation Disclosure must also include the following language:

ECOA Compliance. If Licensee has determined that it is required by the Equal Credit Opportunity Act (ECOA) to provide a the Customer a copy of certain property valuation information Licensee has obtained using the Licensed Application, Licensee must provide the Customer a document (the “Valuation Disclosure”) that contains the following information extracted from the SMDU response file: the standardized address, predicted value, confidence score and response date/timestamp. The Valuation Disclosure must also include the following language:

ECOA Compliance. If Licensee has determined that it is required by the Equal Credit Opportunity Act (ECOA) to provide a the Customer a copy of certain property valuation information Licensee has obtained using the Licensed Application, Licensee must not copy or otherwise provide the entire SMDU response file to the Customer. Instead, Licensee must provide the Customer a document (the “Valuation Disclosure”) that contains the following information extracted from the SMDU response file: the standardized address, predicted value, confidence score and response date/timestamp. The Valuation Disclosure must also include the following language: