An appraisal management company registered under this chapter, or an employee, owner,
director, controlling person, or other agent of an appraisal management company, shall not
do any of the following:
1.Require an appraiser to indemnify an appraisal management company or hold an
appraisal management company harmless for any liability, damage, losses, or claims arising
out of the services performed by the appraisal management company, and not the services
performed by the appraiser.
2.Alter, modify, or otherwise change a completed appraisal report submitted by an
appraiser without the appraiser’s written consent.
3.Require that an appraiser provide the appraisal management company with the
appraiser’sdigitalorelectronicsignature,seal,orcertification,oranypasswordorotherform
of security
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An appraisal management company registered under this chapter, or an employee, owner,
director, controlling person, or other agent of an appraisal management company, shall not
do any of the following:
1. Require an appraiser to indemnify an appraisal management company or hold an
appraisal management company harmless for any liability, damage, losses, or claims arising
out of the services performed by the appraisal management company, and not the services
performed by the appraiser.
2. Alter, modify, or otherwise change a completed appraisal report submitted by an
appraiser without the appraiser’s written consent.
3. Require that an appraiser provide the appraisal management company with the
appraiser’sdigitalorelectronicsignature,seal,orcertification,oranypasswordorotherform
of security intended to prevent persons other than the appraiser from affixing the appraiser’s
digital or electronic signature, seal, or certification on a completed appraisal report.
4. Remove an appraiser from an appraiser panel without prior written notice that
identifies the basis for removal. Upon request or in conjunction with an examination, an
appraisal management company shall forward to the director copies of such notices issued
to an appraiser located or certified in Iowa.
5. Require an appraiser to modify any aspect of an appraisal report other than through a
request permitted under section 543D.18A, subsection 4.
6. Require an appraiser to perform an appraisal assignment if the appraiser has notified
the appraisal management company that, in the appraiser’s own professional judgment, any
of the following apply:
a. The appraiser does not have the necessary competence or expertise for the specific
geographic area or type of property to be appraised.
b. The time frame under which the appraisal assignment is to be performed is insufficient
for the appraiser to meet all relevant legal and professional obligations.
7. Require, either knowingly or through lack of reasonable diligence, an appraiser to take
any action that would violate the uniform standards of professional appraisal practice, or any
provision of chapter 543D or rule adopted pursuant thereto.
8. Prohibitanappraiserfromdisclosingthefeepaidtotheappraiserforappraisalservices
in the appraisal report.
9. Prohibit or inhibit lawful communications between the appraiser and the lender, a real
estate salesperson or broker, or any other person from whom the appraiser, in the appraiser’s
own professional judgment, believes information obtained would be relevant to the appraisal
assignment.
10. Conditionpaymentofalloranypartofanappraiser’sfeeortheappraisalmanagement
company’s fee on a particular outcome, including but not limited to any of the following
outcomes:
a. A loan closing.
b. A specific dollar amount in an appraisal report.
§543E.15, REAL ESTATE APPRAISAL MANAGEMENT COMPANIES 8
c. An outcome that would violate section 543D.18, subsection 2, or section 543D.18A,
subsection 1.
11. Engage in any acts or practices that violate section 543E.14.