Cal. Business and Professions Code - BPC 9. — CHAPTER 9. Miscellaneous [11422. - 11425.] | Business and Professions Code - BPC — California

Cal. Business and Professions Code - BPC § 11422. Section 11422.

The bureau shall, on or before February 1, 1994, and at least annually thereafter, transmit to the appraisal subcommittee specified in subdivision (g) of Section 11302 a roster of persons licensed pursuant to this part.

Cal. Business and Professions Code - BPC § 11423. Section 11423.

(a) For purposes of this section: (1) “Applicant” means a person who has made a written request for an extension of credit which is proposed to be secured by real property. The term does not include a guarantor, surety, or other person who will not be directly liable on the loan. (2) “Appraisal” shall have the same meaning as set forth in subdivision (b) of Section 11302. (3) “Residential real property” means real property located in the State of California containing only a one-to-four family residence. (b) A lender in a loan transaction secured by real property shall provide notice as described in this section to a loan applicant of the applicant’s right to receive a copy of the appraisal, provided he or she has paid for the appraisal. An applicant’s written request for a copy of an appraisal must be received by the lender no later than 90 days after (1) the lender has provided notice of the action taken on the application, including a notice of incompleteness, or (2) the application has been withdrawn. (c) The lender shall mail or deliver a copy of an appraisal within 15 days after receiving a written request from the applicant, or within 15 days after receiving the appraisal, whichever occurs later. (d) Where the loan is proposed to be secured by residential real property, the notice of the applicant’s right to a copy of the appraisal as provided in subdivision (b) shall be given in at least 10-point boldface type, as a separate document in a form that the applicant may retain, and no later than 15 days after the lender receives the written application. The notice shall specify that the applicant’s request for the appraisal must be in writing and must be received by the lender no later than 90 days after the lender provides notice of the action taken on the application or a notice of incompleteness, or in the case of a withdrawn application, 90 days after the withdrawal. An address to which the request should be sent shall be specified in the notice. Release of the appraisal to the applicant may be conditioned upon payment of the cost of the appraisal. (e) Where the loan is proposed to be secured by nonresidential real property, the notice of the applicant’s right to a copy of the appraisal shall be given within 15 days of receiving the appraisal. The notice shall specify that the applicant’s request for a copy of the appraisal must be in writing and that the request must be made within the time specified in subdivision (b) and that the applicant is only entitled to receive the appraisal or appraisals obtained by the lender for the purpose of evaluating the applicant’s pending request for an extension of credit. Release of the appraisal to the applicant may be conditioned upon payment of the cost of the appraisal and the cost of duplicating the appraisal. (f) Nothing in this section is intended to effect a change in current law in any manner with respect to reliance on an appraisal by anyone other than the lender who released the appraisal. (g) This section does not apply to appraisals obtained by lenders on property owned by the lender, nor to appraisals obtained by the lender in anticipation of modifying any existing loan agreement if the lender has not charged for the appraisal. (h) In the case of loans secured by residential real property, compliance with Regulation B (12 CFR Part 202 et seq.) of the Federal Reserve Board is deemed to be compliance with the provisions of this section and Section 10241.3. (i) This section is in addition to any right of access to appraisals that exists under any other provision of state or federal law.

Cal. Business and Professions Code - BPC § 11424. Section 11424.

(a) Licensees shall not base, either partially or completely, their analysis or opinion of market value on the basis of race, color, religion (creed), gender, gender expression, age, national origin (ancestry), disability, marital status, source of income, sexual orientation, familial status, employment status, or military status of either the present or prospective owners or occupants of the subject property, or of the present owners or occupants of the properties in the vicinity of the subject property, or on any other basis prohibited by the federal Fair Housing Act. (b) The provisions of Section 10185 do not apply to this section.

Cal. Business and Professions Code - BPC § 11425. Section 11425.

(a) The bureau shall conduct a one-time study on the feasibility of mandatory licensing for real estate appraisers in California. The bureau shall report its findings, in compliance with Section 9795 of the Government Code, to all appropriate committees of the Legislature on or before December 31, 2028. The report shall include, at a minimum, all of the following: (1) The types of real estate appraisal assignments for which a license is currently not required in California, including the estimated population of individuals engaged in each type of appraisal assignment. (2) Information from other states, including the scope of authorized activities in each state, license application and issuance costs, licensee populations, and any issues or consumer protection resulting from regulation in that state. (3) The appraisal assignments that are recommended to be regulated in California, recommended exemptions, an implementation plan, recommended amendments to existing law, and an estimated timeline for implementation. (4) Fiscal estimates, including estimated costs of implementing the recommendations, estimated revenue generated by the recommendations, and the potential impact to existing license fees. (b) The bureau shall hold at least two public meetings prior to publication of the report to gather information from the public, consult with interested parties, and incorporate relevant stakeholder feedback. (c) This section is repealed on January 1, 2030, pursuant to Section 10231.5 of the Government Code.