Regulatory Information

The amended Truth in Lending Act (also known as Public Law 111-203) now includes Subtitle F - Appraisal Activities Sec. 1471 Property Appraisal Requirements, wherein Chapter 2 of the Act (15 U.S.C. 1631 et seq.) is amended by inserting after 129G (as added by Sec. 1464(b)) 129H. Property Appraisal requirements; which also includes Appraisal Requirements. 129E. Appraisal Independence requirements, including Customary & Reasonable Fees, Sec, 1473 which includes Appraisal Management Companies, appraisal review and definitions, including the definition of an appraisal management company. A complete copy of the Truth in Lending Act is available here.