Appraisal Industry Improvement Act

This bill would let State-licensed appraisers, not only State-certified appraisers, conduct appraisals for mortgages insured by the Federal Housing Administration (FHA), as long as they meet professional competency rules and complete training on FHA appraisal requirements. The Department of Housing and Urban Development would have to issue guidance putting these rules in place. The bill would let the Appraisal Subcommittee adjust registry fees for appraisal management companies, add State credentialed trainee appraisers to the national registry, and allow certified appraisers to use trainees while remaining liable for the final work. It would also allow grants for appraiser workforce training and add Veterans Affairs, the Rural Housing Service, and HUD to the Appraisal Subcommittee.

Full text and official record on Congress.gov

Sponsors

• Byron Donalds Republican sponsor
• 2 cosponsors