A. An appraisal management company shall not enter into any contracts oragreements with an independent appraiser for the performance of residentialreal estate appraisal services unless the independent appraiser is licensedto provide that service under § 54.1-2017 and as otherwise provided inChapter 20.1 (§ 54.1-2009 et seq.) of this title.
B. The appraisal management company shall not prohibit an appraiser fromdisclosing in the appraisal report the actual fees charged by an appraiserfor appraisal services, and shall otherwise comply with any applicablerequirements of federal law including the requirements of the United StatesDepartment of Housing and Urban Development.
C. No employee, director, officer, or agent of an appraisal managementcompany shall influence or attempt to influence the development, reporting,result, or review of a real estate appraisal through coercion, extortion,collusion, compensation, inducement, intimidation, bribery, or in any othermanner, including:
1. Withholding or threatening to withhold timely payment for a real estateappraisal report;
2. Withholding or threatening to withhold future business from a real estateappraiser or demoting or terminating or threatening to demote or terminate areal estate appraiser;
3. Expressly or impliedly promising future business, promotions, or increasedcompensation for a real estate appraiser;
4. Conditioning the ordering of a real estate appraisal report or the paymentof a real estate appraisal fee, salary, or bonus on the opinion, conclusion,or valuation to be reached or on a preliminary estimate requested from a realestate appraiser;
5. Requesting that a real estate appraiser provide an estimated,predetermined, or desired valuation in a real estate appraisal report orprovide estimated values or comparable sales at any time before theappraiser's completion of the appraisal report;
6. Providing to a real estate appraiser an anticipated, estimated,encouraged, or desired value for a subject property or a proposed or targetedamount to be loaned to the borrower. However, a real estate appraiser may beprovided with a copy of the sales contract for purchase transactions;
7. Allowing the removal of a real estate appraiser from a list of qualifiedappraisers used by any entity without prior written notice to the appraiser.The notice shall include written evidence of the appraiser's illegal conduct,substandard performance, or otherwise improper or unprofessional behavior orany violation of the Uniform Standards of Professional Appraisal Practice orlicensing standards for appraisers in the Commonwealth;
8. Any other act or practice that impairs or attempts to impair a real estateappraiser's independence, objectivity, or impartiality;
9. Requesting or requiring a real estate appraiser to collect a fee from theborrower, homeowner, or any other person in the provision of real estateappraisal services;
10. Altering, modifying, or otherwise changing a completed appraisal reportsubmitted by an independent appraiser without the appraiser's writtenknowledge and consent;
11. Use, by the appraisal management company, of an appraisal reportsubmitted by an independent appraiser for any other transaction, purpose oruse other than for that which the appraisal was prepared; however, nothing inthis section shall be construed as prohibiting an appraisal managementcompany from providing a copy of the appraisal to a federal agency in thenormal course of business or when providing a copy of the appraisal isotherwise required by law;
12. Requiring an appraiser to sign any indemnification agreement that wouldrequire the appraiser to defend and hold harmless the appraisal managementcompany or any of its agents, employees or independent contractors for anyliability, damage, losses, or claims arising out of the services performed bythe appraisal management company or its agents, employees or independentcontractors and not the services performed by the appraiser; or
13. Requiring an appraiser to provide the company with the appraiser'sdigital signature or seal.
D. Nothing in this section shall be construed as prohibiting an appraisalmanagement company from requesting that a real estate appraiser:
A. An appraisal management company shall not enter into any contracts oragreements with an independent appraiser for the performance of residentialreal estate appraisal services unless the independent appraiser is licensedto provide that service under § 54.1-2017 and as otherwise provided inChapter 20.1 (§ 54.1-2009 et seq.) of this title.
B. The appraisal management company shall not prohibit an appraiser fromdisclosing in the appraisal report the actual fees charged by an appraiserfor appraisal services, and shall otherwise comply with any applicablerequirements of federal law including the requirements of the United StatesDepartment of Housing and Urban Development.
C. No employee, director, officer, or agent of an appraisal managementcompany shall influence or attempt to influence the development, reporting,result, or review of a real estate appraisal through coercion, extortion,collusion, compensation, inducement, intimidation, bribery, or in any othermanner, including:
1. Withholding or threatening to withhold timely payment for a real estateappraisal report;
2. Withholding or threatening to withhold future business from a real estateappraiser or demoting or terminating or threatening to demote or terminate areal estate appraiser;
3. Expressly or impliedly promising future business, promotions, or increasedcompensation for a real estate appraiser;
4. Conditioning the ordering of a real estate appraisal report or the paymentof a real estate appraisal fee, salary, or bonus on the opinion, conclusion,or valuation to be reached or on a preliminary estimate requested from a realestate appraiser;
5. Requesting that a real estate appraiser provide an estimated,predetermined, or desired valuation in a real estate appraisal report orprovide estimated values or comparable sales at any time before theappraiser's completion of the appraisal report;
6. Providing to a real estate appraiser an anticipated, estimated,encouraged, or desired value for a subject property or a proposed or targetedamount to be loaned to the borrower. However, a real estate appraiser may beprovided with a copy of the sales contract for purchase transactions;
7. Allowing the removal of a real estate appraiser from a list of qualifiedappraisers used by any entity without prior written notice to the appraiser.The notice shall include written evidence of the appraiser's illegal conduct,substandard performance, or otherwise improper or unprofessional behavior orany violation of the Uniform Standards of Professional Appraisal Practice orlicensing standards for appraisers in the Commonwealth;
8. Any other act or practice that impairs or attempts to impair a real estateappraiser's independence, objectivity, or impartiality;
9. Requesting or requiring a real estate appraiser to collect a fee from theborrower, homeowner, or any other person in the provision of real estateappraisal services;
10. Altering, modifying, or otherwise changing a completed appraisal reportsubmitted by an independent appraiser without the appraiser's writtenknowledge and consent;
11. Use, by the appraisal management company, of an appraisal reportsubmitted by an independent appraiser for any other transaction, purpose oruse other than for that which the appraisal was prepared; however, nothing inthis section shall be construed as prohibiting an appraisal managementcompany from providing a copy of the appraisal to a federal agency in thenormal course of business or when providing a copy of the appraisal isotherwise required by law;
12. Requiring an appraiser to sign any indemnification agreement that wouldrequire the appraiser to defend and hold harmless the appraisal managementcompany or any of its agents, employees or independent contractors for anyliability, damage, losses, or claims arising out of the services performed bythe appraisal management company or its agents, employees or independentcontractors and not the services performed by the appraiser; or
13. Requiring an appraiser to provide the company with the appraiser'sdigital signature or seal.
D. Nothing in this section shall be construed as prohibiting an appraisalmanagement company from requesting that a real estate appraiser:
A. An appraisal management company shall not enter into any contracts oragreements with an independent appraiser for the performance of residentialreal estate appraisal services unless the independent appraiser is licensedto provide that service under § 54.1-2017 and as otherwise provided inChapter 20.1 (§ 54.1-2009 et seq.) of this title.
B. The appraisal management company shall not prohibit an appraiser fromdisclosing in the appraisal report the actual fees charged by an appraiserfor appraisal services, and shall otherwise comply with any applicablerequirements of federal law including the requirements of the United StatesDepartment of Housing and Urban Development.
C. No employee, director, officer, or agent of an appraisal managementcompany shall influence or attempt to influence the development, reporting,result, or review of a real estate appraisal through coercion, extortion,collusion, compensation, inducement, intimidation, bribery, or in any othermanner, including:
1. Withholding or threatening to withhold timely payment for a real estateappraisal report;
2. Withholding or threatening to withhold future business from a real estateappraiser or demoting or terminating or threatening to demote or terminate areal estate appraiser;
3. Expressly or impliedly promising future business, promotions, or increasedcompensation for a real estate appraiser;
4. Conditioning the ordering of a real estate appraisal report or the paymentof a real estate appraisal fee, salary, or bonus on the opinion, conclusion,or valuation to be reached or on a preliminary estimate requested from a realestate appraiser;
5. Requesting that a real estate appraiser provide an estimated,predetermined, or desired valuation in a real estate appraisal report orprovide estimated values or comparable sales at any time before theappraiser's completion of the appraisal report;
6. Providing to a real estate appraiser an anticipated, estimated,encouraged, or desired value for a subject property or a proposed or targetedamount to be loaned to the borrower. However, a real estate appraiser may beprovided with a copy of the sales contract for purchase transactions;
7. Allowing the removal of a real estate appraiser from a list of qualifiedappraisers used by any entity without prior written notice to the appraiser.The notice shall include written evidence of the appraiser's illegal conduct,substandard performance, or otherwise improper or unprofessional behavior orany violation of the Uniform Standards of Professional Appraisal Practice orlicensing standards for appraisers in the Commonwealth;
8. Any other act or practice that impairs or attempts to impair a real estateappraiser's independence, objectivity, or impartiality;
9. Requesting or requiring a real estate appraiser to collect a fee from theborrower, homeowner, or any other person in the provision of real estateappraisal services;
10. Altering, modifying, or otherwise changing a completed appraisal reportsubmitted by an independent appraiser without the appraiser's writtenknowledge and consent;
11. Use, by the appraisal management company, of an appraisal reportsubmitted by an independent appraiser for any other transaction, purpose oruse other than for that which the appraisal was prepared; however, nothing inthis section shall be construed as prohibiting an appraisal managementcompany from providing a copy of the appraisal to a federal agency in thenormal course of business or when providing a copy of the appraisal isotherwise required by law;
12. Requiring an appraiser to sign any indemnification agreement that wouldrequire the appraiser to defend and hold harmless the appraisal managementcompany or any of its agents, employees or independent contractors for anyliability, damage, losses, or claims arising out of the services performed bythe appraisal management company or its agents, employees or independentcontractors and not the services performed by the appraiser; or
13. Requiring an appraiser to provide the company with the appraiser'sdigital signature or seal.
D. Nothing in this section shall be construed as prohibiting an appraisalmanagement company from requesting that a real estate appraiser:
