NC S571

Clarifies that appraisal management companies must provide customary and reasonable compensation to appraisers for 1-4 family residential properties (previously limited to principal dwellings).

Establishes that compensation is presumed reasonable if it relates to recent rates paid by consumers for comparable appraisal services in the same geographic market, excluding rates paid by other appraisal management companies.

Requires customary and reasonable rates to be based on objective third-party information such as academic studies, government fee surveys, and independent private sector surveys.

Adds definition of "consumer" as the borrower or owner of the property for which appraisal services are used.

Requires the North Carolina Appraisal Board to adopt implementing rules within 180 days of the law's effective date.