(1) A mortgage loan originator shall not, directly or indirectly, compensate, coerce, or intimidate an appraiser, or attempt, directly or indirectly, to compensate, coerce, or intimidate an appraiser, for the purpose of influencing the independent judgment of the appraiser with respect to the value of a dwelling offered as security for repayment of a residential mortgage loan. This prohibition shall not be construed as prohibiting a mortgage loan originator from requesting an appraiser to:
Consider additional, appropriate property information;
Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or
Correct errors in the appraisal report.
Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 710, § 1, effective October 1.
Editor's note: This section is similar to former § 12-61-910.2 as it existed prior to 2019.