NC H851

Replaces reference to "principal dwelling of the consumer" with "one- to four-family residential dwellings" in compensation rules for appraisers by appraisal management companies.

Requires appraisal management companies to compensate appraisers in compliance with section 129E(i) of the federal Truth in Lending Act (15 U.S.C. § 1601 et seq.) and regulations promulgated thereunder.

Removes requirement that the Board adopt rules establishing customary and reasonable appraisal rates based on objective third-party information such as academic studies and independent private sector surveys.

Directs the Board to adopt rules necessary to enforce the appraisal compensation requirements.

Becomes retroactively effective January 1, 2017.