N.J. Stat. § 45:14F-33

Current through L. 2024, c. 87.

Section 45:14F-33 - Applicability of act

The provisions of this act:

a. shall apply to an appraisal management company in accordance with section 1124(a), (b) and (c) of Subtitle F of the Mortgage Reform and Anti-Predatory Lending Act of 2010, Pub.L. 111-203, amending the Financial Institutions Reform Recovery and Enforcement Act (12 U.S.C. s. 3353 (a), (b), (c)); and

b. shall not apply to:

(1) an employee relocation management company in the course of employee relocation pursuant to its relocation policy; or

(2) a person or entity that exclusively employs appraisers on an employer and employee basis for the performance of appraisals for a variety of clients or intended uses of the appraisal other than mortgage lending consumer credit transactions secured by a consumer's principal dwelling.

N.J.S. § 45:14F-33

Added by L. 2017, c. 72,s. 7, eff. 5/11/2017.