AN ACT TO REQUIRE APPRAISAL MANAGEMENT COMPANIES TO COMPENSATE APPRAISERS IN COMPLIANCE WITH FEDERAL LAW AND TO ALLOW FEDERAL APPELLATE JUDGES TO PERFORM MARRIAGE CEREMONIES.
House amendment makes the following changes to the 4th edition.
Amends proposed GS 93E-2-4(i) to provide that for appraisal assignments of property secured by the principal dwelling of the consumer (was, for appraisal assignments of one- to four-family dwellings), an appraisal company must compensate appraisers in compliance with section 129E(i) of the federal Truth in Lending Act and associated regulations. Adds the requirement that rules establishing customary and reasonable rates be based on objective third-party information.
© 2021 School of Government The University of North Carolina at Chapel Hill
This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.