(a) A lender commits an offense if in connection with a mortgage loan transaction the lender pays or offers to pay a person, including an individual licensed or certified by the Texas Appraiser Licensing and Certification Board or the Texas Real Estate Commission, a fee or other consideration for appraisal services and the payment:
(1) is contingent on a minimum, maximum, or pre-agreed estimate of value of property securing the loan; and
(2) interferes with the person's ability or obligation to provide an independent and impartial opinion of the property's value.
(b) An offense under this section is a Class A misdemeanor.
(c) An instruction a lender gives to a real estate appraiser regarding a legal or other regulatory requirement for the appraisal of property, or any other communication between a lender or real estate appraiser necessary or appropriate under a law, regulation, or underwriting standard applicable to a real estate appraisal, does not constitute interference by a lender for purposes of Subsection (a)(2).
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278 ), Sec. 2.01, eff. April 1, 2009.
