SECTION .0400 – APPRAISAL MANAGEMENT COMPANY GENERAL PRACTICES

21 NCAC 57D .0401         BUSINESS PRACTICES

(a)  An appraisal management company shall not:

(1)           prohibit an appraiser from stating on an appraisal the fee the appraiser was paid by the company for the appraisal;

(2)           prohibit an appraiser from stating on an appraisal the appraiser's primary business address; or

(3)           prohibit an appraiser from informing a property owner, lender, or any other person or entity the appraiser's primary business address.

(b)  An appraisal management company shall conduct its appraisal management services in accordance with the requirements of Section 129E(a)-(i) of the Truth in Lending Act, 15 U.S.C. 1639e(a)-(i), and regulations thereunder, incorporated herein by reference including all subsequent amendments, and may be found on the Board website at www.ncappraisalboard.org/additional-resources at no cost.

History Note:        Authority G.S. 93E-2-3; 93E-2-7;

Eff. January 1, 2011;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. October 3, 2017;

Amended Eff. July 1, 2026.