No person or entity preparing an appraisal or performing appraisal management functions in connection with the origination, modification, or refinancing of a mortgage loan shall have a prohibited direct or indirect interest, financial or otherwise, in the property or the transaction for which the appraisal or appraisal management functions are performed, within the meaning of Section 226.42(d) of Title 12 of the Code of Federal Regulations and the accompanying commentary contained in Volume 75 of the Federal Register, page 66554, dated October 28, 2010.
Cal. Bus. & Prof. Code § 11345.7
Licenses and Certification Application
Known as the Real Estate Appraisers’ Licensing and Certification Law
The act spans §§ 11300–11425 (97 sections).
Added by Stats. 2011, Ch. 716, Sec. 4
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.