Regulation of Real Estate Appraisers and the Home Valuation Code of Conduct (HVCC)

In the 111th Congress, the House-passed comprehensive financial reform bill (H.R. 4173), discussed in more detail below, includes elements of several smaller bills that address appraisal issues in both the 110th and 111th Congress. For example, the House-passed version of H.R. 4173 includes elements of a bill that Representative Brad Miller had introduced, the Mortgage Reform and Anti-Predatory Lending Act (H.R. 1728), which includes provisions for additional changes to the regulation of appraisers. Drawing on language from bills introduced in the 110th Congress (H.R. 3837 and H.R. 3915), H.R. 1728 would have required qualified appraisers to physically visit the property, empower the banking regulators to issue regulations addressing improper attempts to influence appraisers, and add a consumer protection mandate to the duties of the Appraisal Subcommittee of FFIEC. The Senate-passed version of H.R. 4173, also discussed in more detail below, would require a study of appraisal practices but did not contain the antipredatory lending elements. This report will be updated as conditions warrant. Bills: H.R. 4173, H.R. 3044


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#	File Name	Document Date	Order ID:	Number of Pages	Price
1	RS22953.pdf	Jun 18, 2010	RS22953	7	$29.95	Add to Cart

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