source:
  type: regulation
  id: tila-15usc-1639e
  authority: 15 U.S.C. §1639e — Appraisal independence requirements
  description: 'TILA''s appraisal independence section (Dodd-Frank §1472). General

    unlawfulness of acts violating appraisal independence, enumerated

    prohibited acts (coercion/mischaracterization/targeted-value

    influence/payment withholding), mandatory reporting duty to State

    appraiser licensing agency, no-extension-of-credit rule on

    known violations, and customary-and-reasonable fee duty to fee

    appraisers. Implemented in Regulation Z §1026.42. Bootstrap target

    for Round C promotion; obligations populated from candidate file.

    '
obligations:
- id: tila-15usc-1639e-a
  canonical_id: tila-15usc-1639e-a
  section: 15 U.S.C. §1639e(a)
  description: '(a): (a) In general It shall be unlawful, in extending credit or in providing any services
    for a consumer credit transaction secured by the principal dwelling of the consumer, to engage in
    any act or practice that violates appraisal independence as described in or pursuant to regulations
    prescribed under…'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (a) In general It shall be unlawful, in extending credit or in providing any services
      for a consumer credit transaction secured by the principal dwelling of the consumer, to engage in
      any act or practice that violates appraisal independence as described in or pursuant to regulations
      prescribed under this section.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-b
  canonical_id: tila-15usc-1639e-b
  section: 15 U.S.C. §1639e(b)
  description: '(b): (b) Appraisal independence For purposes of subsection (a), acts or practices that
    violate appraisal independence shall include— (1) any appraisal of a property offered as security
    for repayment of the consumer credit transaction that is conducted in connection with such transaction
    in which a person…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (b) Appraisal independence For purposes of subsection (a), acts or practices that
      violate appraisal independence shall include— (1) any appraisal of a property offered as security
      for repayment of the consumer credit transaction that is conducted in connection with such transaction
      in which a person with an interest in the underlying transaction compensates, coerces, extorts,
      colludes, instructs, induces, bribes, or intimidates a person, appraisal management company, firm,
      or other entity conducting or involved in an appraisal, or attempts, to compensate, coerce, extort,
      collude, instruct, induce, bribe, or intimidate such a person, for the purpose of causing the appraised
      value assigned, under the appraisal, to the property to be based on any factor other than the independent
      judgment of the appraiser; (2) mischaracterizing, or suborning any mischaracterization of, the appraised
      value of the property securing the extension of the credit; (3) seeking to influence an appraiser
      or otherwise to encourage a targeted value in order to facilitate the making or pricing of the transaction;
      and (4) withholding or threatening to withhold timely payment for an appraisal report or for appraisal
      services rendered when the appraisal report or services are provided for in accordance with the
      contract between the parties.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-c
  canonical_id: tila-15usc-1639e-c
  section: 15 U.S.C. §1639e(c)
  description: '(c): (c) Exceptions The requirements of subsection (b) shall not be construed as prohibiting
    a mortgage lender, mortgage broker, mortgage banker, real estate broker, appraisal management company,
    employee of an appraisal management company, consumer, or any other person with an interest in a real
    estate …'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: '(c) Exceptions The requirements of subsection (b) shall not be construed as prohibiting
      a mortgage lender, mortgage broker, mortgage banker, real estate broker, appraisal management company,
      employee of an appraisal management company, consumer, or any other person with an interest in a
      real estate transaction from asking an appraiser to undertake 1 or more of the following: (1) Consider
      additional, appropriate property information, including the consideration of additional comparable
      properties to make or support an appraisal. (2) Provide further detail, substantiation, or explanation
      for the appraiser’s value conclusion. (3) Correct errors in the appraisal report.'
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-d
  canonical_id: tila-15usc-1639e-d
  section: 15 U.S.C. §1639e(d)
  description: '(d): (d) Prohibitions on conflicts of interest No certified or licensed appraiser conducting,
    and no appraisal management company procuring or facilitating, an appraisal in connection with a consumer
    credit transaction secured by the principal dwelling of a consumer may have a direct or indirect interest…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (d) Prohibitions on conflicts of interest No certified or licensed appraiser conducting,
      and no appraisal management company procuring or facilitating, an appraisal in connection with a
      consumer credit transaction secured by the principal dwelling of a consumer may have a direct or
      indirect interest, financial or otherwise, in the property or transaction involving the appraisal.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-e
  canonical_id: tila-15usc-1639e-e
  section: 15 U.S.C. §1639e(e)
  description: '(e): (e) Mandatory reporting Any mortgage lender, mortgage broker, mortgage banker, real
    estate broker, appraisal management company, employee of an appraisal management company, or any other
    person involved in a real estate transaction involving an appraisal in connection with a consumer
    credit transact…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (e) Mandatory reporting Any mortgage lender, mortgage broker, mortgage banker, real
      estate broker, appraisal management company, employee of an appraisal management company, or any
      other person involved in a real estate transaction involving an appraisal in connection with a consumer
      credit transaction secured by the principal dwelling of a consumer who has a reasonable basis to
      believe an appraiser is failing to comply with the Uniform Standards of Professional Appraisal Practice,
      is violating applicable laws, or is otherwise engaging in unethical or unprofessional conduct, shall
      refer the matter to the applicable State appraiser certifying and licensing agency.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-f
  canonical_id: tila-15usc-1639e-f
  section: 15 U.S.C. §1639e(f)
  description: '(f): (f) No extension of credit In connection with a consumer credit transaction secured
    by a consumer’s principal dwelling, a creditor who knows, at or before loan consummation, of a violation
    of the appraisal independence standards established in subsections [1] (b) or (d) shall not extend
    credit based…'
  type: dont
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (f) No extension of credit In connection with a consumer credit transaction secured
      by a consumer’s principal dwelling, a creditor who knows, at or before loan consummation, of a violation
      of the appraisal independence standards established in subsections [1] (b) or (d) shall not extend
      credit based on such appraisal unless the creditor documents that the creditor has acted with reasonable
      diligence to determine that the appraisal does not materially misstate or misrepresent the value
      of such dwelling.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-g
  canonical_id: tila-15usc-1639e-g
  section: 15 U.S.C. §1639e(g)
  description: '(g): (g) Rules and interpretive guidelines (1) In general Except as provided under paragraph
    (2), the Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation , the National
    Credit Union Administration Board, the Federal Housing Finance Agency , and the Bureau may jointly
    issue r…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (g) Rules and interpretive guidelines (1) In general Except as provided under paragraph
      (2), the Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation , the
      National Credit Union Administration Board, the Federal Housing Finance Agency , and the Bureau
      may jointly issue rules, interpretive guidelines, and general statements of policy with respect
      to acts or practices that violate appraisal independence in the provision of mortgage lending services
      for a consumer credit transaction secured by the principal dwelling of the consumer and mortgage
      brokerage services for such a transaction, within the meaning of subsections (a), (b), (c), (d),
      (e), (f), (h), and (i). (2) Interim final regulations The Board shall, for purposes of this section,
      prescribe interim final regulations no later than 90 days after July 21, 2010 , defining with specificity
      acts or practices that violate appraisal independence in the provision of mortgage lending services
      for a consumer credit transaction secured by the principal dwelling of the consumer or mortgage
      brokerage services for such a transaction and defining any terms in this section or such regulations.
      Rules prescribed by the Board under this paragraph shall be deemed to be rules prescribed by the
      agencies jointly under paragraph (1).
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-h
  canonical_id: tila-15usc-1639e-h
  section: 15 U.S.C. §1639e(h)
  description: '(h): (h) Appraisal report portability Consistent with the requirements of this section,
    the Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation , the National
    Credit Union Administration Board, the Federal Housing Finance Agency , and the Bureau may jointly
    issue regulations…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (h) Appraisal report portability Consistent with the requirements of this section,
      the Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation , the National
      Credit Union Administration Board, the Federal Housing Finance Agency , and the Bureau may jointly
      issue regulations that address the issue of appraisal report portability, including regulations
      that ensure the portability of the appraisal report between lenders for a consumer credit transaction
      secured by a 1-4 unit single family residence that is the principal dwelling of the consumer, or
      mortgage brokerage services for such a transaction.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-i
  canonical_id: tila-15usc-1639e-i
  section: 15 U.S.C. §1639e(i)
  description: '(i): (i) Customary and reasonable fee (1) In general Lenders and their agents shall compensate
    fee appraisers at a rate that is customary and reasonable for appraisal services performed in the
    market area of the property being appraised. Evidence for such fees may be established by objective
    third-party …'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (i) Customary and reasonable fee (1) In general Lenders and their agents shall compensate
      fee appraisers at a rate that is customary and reasonable for appraisal services performed in the
      market area of the property being appraised. Evidence for such fees may be established by objective
      third-party information, such as government agency fee schedules, academic studies, and independent
      private sector surveys. Fee studies shall exclude assignments ordered by known appraisal management
      companies. (2) Fee appraiser definition (A) In general For purposes of this section, the term “
      fee appraiser ” means a person who is not an employee of the mortgage loan originator or appraisal
      management company engaging the appraiser and is—
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-i
  canonical_id: tila-15usc-1639e-i
  section: 15 U.S.C. §1639e(i)
  description: '(i): (i) a State licensed or certified appraiser who receives a fee for performing an
    appraisal and certifies that the appraisal has been prepared in accordance with the Uniform Standards
    of Professional Appraisal Practice; or (ii) a company not subject to the requirements of section 3353
    of title 12 tha…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (i) a State licensed or certified appraiser who receives a fee for performing an
      appraisal and certifies that the appraisal has been prepared in accordance with the Uniform Standards
      of Professional Appraisal Practice; or (ii) a company not subject to the requirements of section
      3353 of title 12 that utilizes the services of State licensed or certified appraisers and receives
      a fee for performing appraisals in accordance with the Uniform Standards of Professional Appraisal
      Practice. (B) Rule of construction related to appraisal donations If a fee appraiser voluntarily
      donates appraisal services to an organization eligible to receive tax-deductible charitable contributions,
      such voluntary donation shall be considered customary and reasonable for the purposes of paragraph
      (1). (3) Exception for complex assignments In the case of an appraisal involving a complex assignment,
      the customary and reasonable fee may reflect the increased time, difficulty, and scope of the work
      required for such an appraisal and include an amount over and above the customary and reasonable
      fee for non-complex assignments.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-j
  canonical_id: tila-15usc-1639e-j
  section: 15 U.S.C. §1639e(j)
  description: '(j): (j) Sunset Effective on the date the interim final regulations are promulgated pursuant
    to subsection (g), the Home Valuation Code of Conduct announced by the Federal Housing Finance Agency
    on December 23, 2008 , shall have no force or effect.'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (j) Sunset Effective on the date the interim final regulations are promulgated pursuant
      to subsection (g), the Home Valuation Code of Conduct announced by the Federal Housing Finance Agency
      on December 23, 2008 , shall have no force or effect.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
- id: tila-15usc-1639e-k
  canonical_id: tila-15usc-1639e-k
  section: 15 U.S.C. §1639e(k)
  description: '(k): (k) Penalties (1) First violation In addition to the enforcement provisions referred
    to in section 1640 of this title , each person who violates this section shall forfeit and pay a civil
    penalty of not more than $10,000 for each day any such violation continues. (2) Subsequent violations
    In the cas…'
  type: do
  tags:
  - regulator-direct
  - section-complete
  - usc-statute
  primary_source:
    tier: 1
    authority: 15 U.S.C. §1639e(a)
    source_class: tila-statute
    source_url: https://www.law.cornell.edu/uscode/text/15/1639e
    snapshot_id: d81081511146e79a
    fetched_at: '2026-05-24T16:52:23Z'
    content_hash: sha256:c3fe1267dfca60ed81675b1600321668c61959b381b950e02a6421ceb2656144
    paragraph_quote: (k) Penalties (1) First violation In addition to the enforcement provisions referred
      to in section 1640 of this title , each person who violates this section shall forfeit and pay a
      civil penalty of not more than $10,000 for each day any such violation continues. (2) Subsequent
      violations In the case of any person on whom a civil penalty has been imposed under paragraph (1),
      paragraph (1) shall be applied by substituting “$20,000” for “$10,000” with respect to all subsequent
      violations. (3) Assessment The agency referred to in subsection (a) or (c) of section 1607 of this
      title with respect to any person described in paragraph (1) shall assess any penalty under this
      subsection to which such person is subject. ( Pub. L. 90–321, title I, § 129E , as added Pub. L.
      111–203, title XIV, § 1472(a) , July 21, 2010 , 124 Stat. 2187 ; amended Pub. L. 115–174, title
      I, § 102 , May 24, 2018 , 132 Stat. 1299 .) [1] So in original. Probably should be “subsection”.
    drafter_attestation: Verbatim subsection of 15 U.S.C. §1639e from Cornell LII snapshot d81081511146e79a;
      body isolated between nav and notes; substring-verified.
  judgment: false
