Section 10177.3 - Knowing or intentional misrepresentation of value of real property(a) No licensee shall knowingly or intentionally misrepresent the value of real property.(b) No licensee that offers or provides an opinion of value of residential real property that is used as the basis for the origination of a mortgage loan shall have a prohibited interest in that property, within the meaning of Section 226.42(d) of Title 12 of the Code of Federal Regulations and the accompanying commentary contained in Volume 75 of the Federal Register, page 66554, dated October 28, 2010.Ca. Bus. and Prof'l. Code § 10177.3
Added by Stats 2011 ch 716 (SB 6),s 2, eff. 1/1/2012.