Tex.
Bus. & Com. Code Section 103.002
Criminal Penalty
(a)
A lender commits an offense if in connection with a mortgage loan transaction the lender pays or offers to pay a person, including an individual licensed or certified by the Texas Appraiser Licensing and Certification Board or the Texas Real Estate Commission, a fee or other consideration for appraisal services and the payment:(1)
is contingent on a minimum, maximum, or pre-agreed estimate of value of property securing the loan; and(2)
interferes with the person’s ability or obligation to provide an independent and impartial opinion of the property’s value.(b)
An offense under this section is a Class A misdemeanor.(c)
An instruction a lender gives to a real estate appraiser regarding a legal or other regulatory requirement for the appraisal of property, or any other communication between a lender or real estate appraiser necessary or appropriate under a law, regulation, or underwriting standard applicable to a real estate appraisal, does not constitute interference by a lender for purposes of Subsection (a)(2).
Source:
Section 103.002 — Criminal Penalty, https://statutes.capitol.texas.gov/Docs/BC/htm/BC.103.htm#103.002 (accessed Apr. 13, 2024).
