Silly Realtor. (Perpexity)
"Under Dodd-Frank’s appraisal-independence rules, the main federal punishment is a civil money penalty of up to $10,000 per day for each day the violation continues, and up to $20,000 per day for subsequent violations. The law also says a creditor who knows of a violation before loan consummation generally cannot extend credit based on that appraisal unless it documents reasonable diligence that the appraisal does not materially misstate value.[uscode.house +2]
What counts as a violation
The prohibited conduct includes coercing, extorting, colluding with, instructing, bribing, or intimidating an appraiser, or materially misrepresenting the appraised value to secure the loan. At the same time, the law allows normal communications such as asking for more information, additional comparables, or correction of errors.[journal.firsttuesday +2]
Who can be penalized
The statute applies broadly to “each person” who violates the appraisal-independence section, and the Federal Reserve/CFPB enforcement framework can impose the penalty. State appraiser licensing agencies can also become involved if the conduct suggests USPAP or licensing violations.[law.cornell +2]
Practical takeaway
So if a real estate agent interferes with appraiser independence, the federal exposure is not a fixed one-time fine; it is typically a per-day civil penalty, plus possible lender restrictions and state disciplinary action."
housingnotes.com
