- A person engages in a deceptive trade practice when, in the course of such person’s business, vocation, or occupation, the person:
- Knowingly submits a false or misleading appraisal in connection with a dwelling offered as security for repayment of a mortgage loan; or
- Directly or indirectly compensates, coerces, or intimidates an appraiser, or attempts, directly or indirectly, to compensate, coerce, or intimidate an appraiser, for the purpose of influencing the independent judgment of the appraiser with respect to the value of a dwelling offered as security for repayment of a mortgage loan.
- The prohibition referred to in subsection (1) of this section shall not be construed as prohibiting a person from requesting an appraiser to:
- Consider additional, appropriate property information;
- Provide further detail, substantiation, or explanation for the appraiser’s value conclusion; or
- Correct errors in the appraisal report.
Source: L. 2007: Entire section added, p. 1727, § 4, effective June 1.