Section 339.1205

Title XXII OCCUPATIONS AND PROFESSIONS

Chapter 339

Effective - 28 Aug 2010, 2 histories, see footnote   (history) 

  339.1205.  Prohibited acts, appraisal management company. — An appraisal management company shall not:

  (1) Require an appraiser to modify any aspect of an appraisal report unless the modification complies with section 339.1200;

  (2) Require an appraiser to prepare an appraisal report if the appraiser, in the appraiser's own professional judgment, believes the appraiser does not have the necessary expertise for the assignment or for the specific geographic area, and has notified the appraisal management company and declined the assignment;

  (3) Require an appraiser to prepare an appraisal under a time frame that the appraiser, in the appraiser's own professional judgment, believes does not afford the appraiser the ability to meet all the relevant legal and professional obligations, and has notified the appraisal management company and declined the assignment;

  (4) Prohibit or inhibit legal or other allowable communication between the appraiser and:

  (a) The lender;

  (b) A real estate licensee; or

  (c) Any other person from whom the appraiser, in the appraiser's own professional judgment, believes information would be relevant;

  (5) Knowingly require the appraiser to do anything that does not comply with:

  (a) Uniformed Standards of Professional Appraisal Practice (USPAP);

  (b) The Missouri certified and licensed real estate appraisers act established under this chapter; or

  (c) Any assignment conditions and certifications required by the client;

  (6) Make any portion of the appraiser's fee or the appraisal management company's fee contingent on a predetermined or favorable outcome, including but not limited to:

  (a) A loan closing; or

  (b) Specific dollar amount being achieved by the appraiser in the appraisal report.

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(L. 2010 H.B. 1692, et al.)