543E.14 Appraiser independence — compensation.
1. An appraisal management company registered under this chapter shall take all reasonable steps to assure that appraisals are conducted independently and free from inappropriate influence or coercion pursuant to the appraisal independence standards established under section 129E of the federal Truth in Lending Act, including the requirements for the payment of reasonable and customary fees, and in compliance with the independence, objectivity, and impartiality provisions of section 543D.18, subsections 1 and 2, and section 543D.18A.
2. An appraisal management company shall compensate appraisers at a rate that is reasonable and customary for appraisal services being performed in the market area of the property being appraised in accordance with federal law.
2016 Acts, ch 1124, §14, 32
Referred to in §543E.15
Structure Iowa Code
Chapter 543E - REAL ESTATE APPRAISAL MANAGEMENT COMPANIES
Section 543E.2 - Purpose and scope.
Section 543E.4 - Registration required.
Section 543E.6 - Ownership — restrictions and requirements.
Section 543E.7 - Designation of controlling person.
Section 543E.8 - Registration — application requirements.
Section 543E.9 - Registration renewal.
Section 543E.11 - Appraiser, appraisal review, and employee restrictions.
Section 543E.12 - Adherence to standards — mandatory reporting.
Section 543E.13 - Recordkeeping — payment.
Section 543E.14 - Appraiser independence — compensation.
Section 543E.15 - Prohibited acts.
Section 543E.16 - Display of registration number.
Section 543E.17 - Grounds for disciplinary action.
Section 543E.18 - Unlawful practice — complaints and investigations — remedies and penalties.