NC H577

Empowers the North Carolina Appraisal Board to establish and publish customary and reasonable fee schedules for real estate appraisals every three years, based on market area and measured by net compensation to appraisers.

Requires appraisal management companies to report to the Board upon license renewal the number of appraisals performed, total net compensation paid, and data on complex property assignments, itemized by market area.

Defines "net compensation" as the amount an appraiser receives after all fees charged by the appraisal management company have been deducted.

Requires appraisal management companies to separately disclose to clients the net compensation paid to appraisers and any fees charged for appraisal management services, with appraisal management fees excluded from the reported appraisal completion charges.

Makes it unlawful for mortgage lenders to fail to distinguish in writing between compensation paid to appraisers and appraisal management service fees, and authorizes the Board to audit compliance and discipline companies that fail to pay reasonable and customary fees.