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New Property Appraisal Rules: Transparency and Reconsideration Rights

This act establishes a public database of property appraisals, increasing market transparency. It also grants citizens the right to request a reconsideration of their property's value if they believe the initial appraisal is flawed or discriminatory. The goal is to ensure fair and consistent appraisals for all mortgage loan applicants.
Key points
Creation of a public, searchable database of property appraisal data, including historical and current valuations.
Empowering citizens to request a reconsideration of property value if an appraisal appears unsupported, deficient, or discriminatory.
If significant deficiencies or discrimination are found, lenders must order a new appraisal at their own expense and report the issue to relevant authorities.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2322
Sponsor: Sen. Warnock, Raphael G. [D-GA]
Process start date: 2025-07-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Appraisal Modernization Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2322.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-17.

What are the main provisions?

Key points include:

  • Creation of a public, searchable database of property appraisal data, including historical and current valuations.
  • Empowering citizens to request a reconsideration of property value if an appraisal appears unsupported, deficient, or discriminatory.
  • If significant deficiencies or discrimination are found, lenders must order a new appraisal at their own expense and report the issue to relevant authorities.
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. Warnock, Raphael G. [D-GA].

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 Courts and Law Economy