Appraisal Industry Improvement Act
Introduced May 7, 2025 by Sen. Kevin Cramer
It's waiting on a committee vote to reach the full chamber. Most bills never leave this stage.
This bill revises the eligibility criteria for real estate appraisers who are authorized to perform appraisals for federally related mortgage loans.
As background, the Federal Financial Institutions Examination Council’s Appraisal Subcommittee oversees state licensing and certification of appraisers and maintains a registry of appraisers who are eligible to perform federally related appraisals—those tied to mortgages involving federally insured banks, federally backed programs (e.g., programs administered by the Federal Housing Administration), or government sponsored enterprises (e.g., Fannie Mae).
The bill
allows federal employees who are state certified or licensed as an appraiser to perform federally related appraisals in states and territories other than the state or territory in which they are certified or licensed,
Read the full summary on Congress.govSummary by the Congressional Research Service.
No floor votes yet — it hasn't reached the floor of either chamber.