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Streamlining Property Appraisals: New Rules for Appraisers and Trainees.

This act aims to streamline the property appraisal process for FHA-insured mortgages. It introduces new qualification requirements for appraisers and allows trainees to participate more actively in appraisals, potentially speeding up home buying and increasing appraisal service availability.
Key points
Appraisers for FHA-insured mortgages must meet new, standardized education and competency requirements, aiming for higher quality appraisals.
Federal employees can be licensed in one state to perform appraisals nationwide, simplifying their work.
State-credentialed trainee appraisers can now assist in appraisals, potentially reducing appraisal wait times and increasing the number of available professionals.
The act allows for a reduction in registry fees for appraisal management companies if current fees are deemed inappropriate.
Grants are provided to state agencies to support appraiser education and training, addressing workforce needs in the appraisal industry.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1635
Sponsor: Sen. Cramer, Kevin [R-ND]
Process start date: 2025-05-07
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Appraisal Industry Improvement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1635.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-05-07.

What are the main provisions?

Key points include:

  • Appraisers for FHA-insured mortgages must meet new, standardized education and competency requirements, aiming for higher quality appraisals.
  • Federal employees can be licensed in one state to perform appraisals nationwide, simplifying their work.
  • State-credentialed trainee appraisers can now assist in appraisals, potentially reducing appraisal wait times and increasing the number of available professionals.
  • The act allows for a reduction in registry fees for appraisal management companies if current fees are deemed inappropriate.
  • Grants are provided to state agencies to support appraiser education and training, addressing workforce needs in the appraisal industry.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cramer, Kevin [R-ND].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Real Estate