R162-2e-401. Unprofessional Conduct

  (1) An entity that is registered or required to be registered with the division as an AMC pursuant to Section 61-2e-201 commits unprofessional conduct if the entity:

  (a) requires an appraiser to modify any aspect of the appraisal report, unless the modification complies with Section 61-2e-307;

  (b) unless first prohibited by the client or applicable law, prohibits or inhibits an appraiser from contacting:

  (i) the client;

  (ii) a person licensed under Section 61-2c or Section 61-2f; or

  (iii) any other person with whom the appraiser reasonably needs to communicate in order to obtain information necessary to complete a credible appraisal report;

  (c) requires the appraiser to do anything that does not comply with:

  (i) USPAP; or

  (ii) assignment conditions and certifications required by the client;

  (d) makes any portion of the appraiser's fee or the AMC's fee contingent on a favorable outcome, including but not limited to:

  (i) a loan closing; or

  (ii) a specific dollar amount being achieved by the appraiser in the appraisal report;

  (e) requests, for the purpose of facilitating a mortgage loan transaction,

  (i) a broker price opinion; or

  (ii) any other real property price or value estimation that does not qualify as an appraisal;

  (f) charges an appraiser:

  (i) for a service not actually performed; or

  (ii) for a fee or cost that:

  (A) is not accurately disclosed pursuant to Subsection R162-2e-304(1)(a)(ii); or

  (B) exceeds the actual cost of a service provided by a third party;

  (g) fails to pay the appraiser's fee within 45 days of completion of the appraisal assignment;

  (h) uses or retains an employee to complete an appraisal assignment without first disclosing to the client that the appraiser is an employee of the company, such that the company is acting in the capacity of an appraisal firm rather than as an AMC pursuant to Utah Code Subsection 61-2e-102(4); or

  (i) when acting in the capacity of an AMC pursuant to Utah Code Subsection 61-2e-102(4), uses or retains an employee appraiser to complete an appraisal assignment.

  (2) An AMC commits unprofessional conduct and creates a violation by the appraiser of R162-2g-502b(1)(f) if the AMC requires the appraiser to:

  (a) accept full payment; and

  (b) remit a portion of the full payment back to the AMC.