A4252

Establishes penalties for appraisers who engage in discriminatory real estate appraisals and requires certain information to be provided to present.

New Jersey A4252 establishes penalties for appraisers who engage in discriminatory real estate appraisals. For a first violation, the State Real Estate Appraiser Board must order the holder to make restitution of the cost of the discriminatory appraisal and require the holder to attend an anti-bias seminar. A second violation requires the board to suspend the credential of the holder, order the holder to make restitution by covering the cost of the appraisal, and require the holder to attend an anti-bias seminar. A third violation results in the revocation of the credential and restitution.