Bill · S. 1635· Senate(119-S-1635)
Appraisal Industry Improvement Act
- Introduced
- 5/7/2025
- Last activity
- 5/7/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Kevin Cramer
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
The Appraisal Industry Improvement Act amends the National Housing Act to allow State-licensed appraisers to perform appraisals for FHA-insured mortgages. It establishes specific education and competency requirements for these appraisers and mandates the Secretary of Housing and Urban Development to implement these changes. The bill also includes State credentialed trainee appraisers on the national registry and allows certified appraisers to use their assistance. Additionally, it permits the Appraisal Subcommittee to lower registry fees for appraisal management companies and provides grants for workforce training. Finally, it expands the membership of the Appraisal Subcommittee to include agencies from the Department of Veterans Affairs, the Department of Agriculture, and the Department of Housing and Urban Development.
Yes· 3 of 16
Would business owners be better off under this?+4
Reduces registry fees for appraisal management companies.
Is this likely to create jobs?+4
Expands the pool of eligible appraisers for FHA mortgages and provides grants for workforce training.
Would people in their twenties and thirties be better off under this?+3
Lowers registry fees and provides a path for trainee appraisers to enter the profession.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Increased Appraiser Access: By authorizing State-licensed appraisers to conduct appraisals for FHA-insured mortgages, the bill expands the pool of eligible professionals (Section 2(a)).
- Fee Reduction Flexibility: The Appraisal Subcommittee can now establish new formulas to decrease registry fees for appraisal management companies if current fees cause adverse consequences (Section 3).
- Trainee Integration: The bill allows State certified appraisers to use the assistance of State credentialed or unlicensed trainee appraisers, which supports professional development (Section 4(c)).
- Affordable Trainee Fees: State credentialed trainee appraisers are set to pay an annual registry fee of not more than $20 (Section 4(b)).
- Workforce Support: The bill authorizes grants to State agencies to support education and training activities to address workforce needs in the appraiser industry (Section 5).
Potential Negative Impacts for People
- Mandatory Training Requirements: Appraisers must demonstrate verifiable education and complete specific courses or seminars to be eligible, which may create an additional burden for those not previously approved by the FHA (Section 2(a) and (b)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+4Good For Students+3Good For Young Adults+3Good For Farmers+2Good For Low Income Households+2Good For Middle Aged+2Good For Middle Class Households+2Good For Rural Residents+2Good For Veterans+2
- Economy And Finance
- Increases Job Creation+4Improves Small Business Support+3Improves Economic Growth+2
- Environment Energy And Infrastructure
- Improves Rural Development+2
- Governance And Ideology
- Increase States Rights+2
- Social Issues And Justice
- Improves Affordable Housing+2
- National Security And Foreign Policy
- Improves Veterans Benefits+1
- 5/7/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
Ruben GallegoDemocrat · Arizona