Kansas Statutes 58-4717. Prohibited acts
Terms Used In Kansas Statutes 58-4717
- AMC: means an individual, firm, partnership, association, corporation, limited liability company or any other business entity acting as an external third party authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter of or other principal in the secondary mortgage markets:
(1) That performs appraisal management services, regardless of the use of any of the following terms: Appraisal management company, mortgage technology provider, mortgage services provider, lender processing services provider, loan processor, real estate closing services provider, vendor management company or any other like term; and
(2) such entity oversees an appraiser panel of:
(A) More than 15 appraisers who are certified or licensed in Kansas; or
(B) a total of more than 25 appraisers who are certified or licensed in Kansas and in any other jurisdiction. See Kansas Statutes 58-4703
- Appraisal: A determination of property value.
- Appraisal: has the meaning specified in Kan. See Kansas Statutes 58-4703
- Appraiser: means an individual who holds a credential issued by the Kansas real estate appraisal board pursuant to the state certified and licensed real property appraiser act entitling that individual to perform an appraisal of real property in the state of Kansas consistent with the scope of practice for such credential. See Kansas Statutes 58-4703
- Person: means an individual, firm, partnership, association, corporation, or any other entity. See Kansas Statutes 58-4703
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- USPAP: means the edition of the uniform standards of professional appraisal practice as specified in Kan. See Kansas Statutes 58-4703
No AMC shall perform or attempt to perform any of the following acts:
(a) Require an appraiser to modify any aspect of an appraisal unless the modification complies with subsection (b) of Kan. Stat. Ann. 2023 Supp. 58-4716, and amendments thereto;
(b) require an appraiser to prepare an appraisal if the appraiser, in the appraiser’s own independent professional judgment:
(1) Believes the appraiser does not have the necessary expertise for the assignment or for the specific geographic area; and
(2) the appraiser has notified the AMC and declined the assignment;
(c) require an appraiser to prepare an appraisal under a time frame that the appraiser, in the appraiser’s own professional judgment:
(1) Believes does not afford the appraiser the ability to meet all the relevant legal and professional obligations; and
(2) the appraiser has notified the AMC and declined the assignment;
(d) prohibit or inhibit legal or other allowable communication between the appraiser and the lender, a real estate licensee, or any other person from whom the appraiser, in the appraiser’s own professional judgment, believes information would be relevant;
(e) require the appraiser to do anything that does not comply with USPAP, the state certified and licensed real estate appraisers act or the regulations adopted thereunder, or any assignment conditions and certifications required by the client; or
(f) make any portion of the appraiser’s fee or the AMC’s fee contingent on a predetermined or favorable outcome, including, but not limited, to a loan closing or a specific dollar amount being achieved by the appraiser in the appraisal.