45:14F-42 Adoption of appraiser independence standards.
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/nj/title-45/chapter-14f/45-14f-42A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
16. This act adopts by reference the appraiser independence standards established under section 1639e of the federal Truth in Lending Act, Pub.L.90-321 (15 U.S.C. s.1639e), including:
a. the requirements for payment of customary and reasonable compensation to fee appraisers when the appraisal management company is providing services for a consumer credit transaction secured by the principal dwelling of a consumer; and
b. all necessary enforcement and remedies available under the federal Truth in Lending Act, Pub.L.90-321 (15 U.S.C. s.1601 et seq.).
L.2017, c.72, s.16.