Bill Summaries: S573 (2017-2018 Session)

Tracking:
  • Bill S 573 (2017-2018)
    Summary date: Mar 31 2017 - View summary

    Amends GS 93E-2-4(i), pertaining to the requirement for appraisal management companies to provide appraisers customary and reasonable compensation. Requires an appraisal management company to compensate appraisers for appraisal assignments of one- to four-family dwellings (currently, for appraisal assignments of property secured by the principal dwelling of the consumer) in compliance with section 129E(i) of the federal Truth in Lending Act (15 USC 1601 et seq) and regulations promulgated thereunder. Eliminates the requirement for the North Carolina Appraisal Board to base its rules establishing customary and reasonable rates on objective third party information, such as academic studies and independent private sector surveys. Effective October 1, 2017.
    Development, Land Use and Housing, Property and Housing
    GS 93E

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