Identical to S 571, filed 3/30/17.

Amends GS 93E-2-4(i), pertaining to the requirement for appraisal management companies to provide appraisers customary and reasonable compensation. Amends and adds to the existing language and now requires an appraisal management company to provide customary and reasonable compensation and offers of compensation to appraisers for appraisal assignments of 1-4 family residential properties. Establishes that compensation and offers of compensation provided to an appraiser are deemed reasonable if the compensation or offer of compensation is in an amount reasonably related to recent rates paid by the consumer for comparable appraisal services performed in the geographic market of the property being appraised. Provides that recent rates do not include amounts paid by appraisal management companies. Directs that customary and reasonable rates be based on objective third-party information, such as academic studies, government fee surveys, and independent private sector surveys. Directs the North Carolina Appraisal Board to adopt necessary rules to enforce subsection (i) as amended within 180 days of the date the act becomes law.

Adds the term consumer to GS 93E-2-2, and defines the term as it applies to Article 2, Real Estate Appraisal Management Companies, of GS Chapter 93E to mean the borrower or owner of the property interest for which an appraiser's services are utilized.