To amend the National Housing Act to authorize State-licensed appraisers to conduct appraisals in connection with mortgages insured by the FHA and to require compliance with the existing appraiser education requirement, and for other purposes.
Committees
Senate Banking, Housing, and Urban Affairs Committee
Bill Summary
Homebuyer Assistance Act of 2019 This bill modifies requirements for appraisers of Federal Housing Administration-insured mortgages. Currently, an appraiser must be certified by certain state or national entities. The bill removes the national entities from the list of approved certification entities and allows an appraiser to be state-licensed rather than state-certified to meet requirements. The bill also provides specified educational requirements for appraisers.
To amend the National Housing Act to authorize State-licensed appraisers to conduct appraisals in connection with mortgages insured by the FHA and to require compliance with the existing appraiser education requirement, and for other purposes.
Homebuyer Assistance Act of 2019 This bill modifies requirements for appraisers of Federal Housing Administration-insured mortgages. Currently, an appraiser must be certified by certain state or national entities. The bill removes the national entities from the list of approved certification entities and allows an appraiser to be state-licensed rather than state-certified to meet requirements. The bill also provides specified educational requirements for appraisers.