Fed Adopts Provisions Prohibiting Coercion of Appraisers
The Federal Reserve recently adopted provisions prohibiting mortgage brokers from coercing, influencing, or otherwise encouraging an appraiser to provide a misstated appraisal in connection with a mortgage loan. The provision, which comes in the form of a “Final Rule,” was supported by the Appraisal Institute, American Society of Appraisers, American Society of Farm Managers and Rural Appraisers and the National Association of Independent Fee Appraisers.
