15 U.S. Code 1639e – Appraisal versatility standards
They is going to be unlawful, during the stretching borrowing or even in providing people features for a customers borrowing transaction safeguarded from the prominent dwelling of your own individual, to engage in any operate or routine you to violates appraisal freedom just like the described during the or pursuant so you can laws and regulations given lower than which area
Concerning a credit deal protected by the a consumer’s principal dwelling, a collector that knows, within otherwise ahead of mortgage consummation, away from a solution of the appraisal independence standards created in subsections (b) or (d) shall perhaps not continue credit centered on such as assessment unless of course the fresh new creditor records the collector has acted which have realistic diligence to decide the assessment does not materially misstate or misrepresent the value of such house. (mehr …)