Property Valuation
An appraisal performed for a NJ federally-related mortgage transaction must be completed by:
AAny licensed real estate agent
BA state-certified or state-licensed real estate appraiser✓ Correct
CThe lender's in-house staff only
DA CPA
Explanation
Federal law (FIRREA) requires appraisals for federally-related transactions to be performed by state-certified or state-licensed real estate appraisers. NJ appraisers are licensed by the NJ Real Estate Appraiser Board.
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