Appraisal Bills in the 115th Congress
Name: Financial Choice Act.
Sponsor: Rep. Jeb Hensarling (R-TX)
Appraisal Issue:A new appraisal on a performing commercial loan shall not be required unless an advance of new funds is involved.
Name: To clarify that nonprofit organizations such as Habitat for Humanity may accept donated mortgage appraisals, and for other purposes.
Sponsor: Sen. Portman (R-OH), Sen. Benett (D-CO)
Appraisal Issue: A bill to clarify that nonprofit organizations such as Habitat for Humanity may accept donated mortgage appraisals, and for other purposes; to the Committee on Banking, Housing, and Urban Affairs.
S. 245/H.R. 210
Sponsor: Sen. Hoeven (R-ND)/Rep. Don Young (R-AK)
Name: Indian Tribal Energy Development and Self-Determination Act
Appraisal Issue: Tribal appraisals without standards or qualifications requirements
Name: Small Tracts Conveyance Act
Sponsor: Rep. Mark Amodei (R-Nev.)
Appraisal Issue:The fair market value of an eligible Federal lands parcel shall be established by an appraisal submitted by the adjacent landholder seeking to purchase the parcel, unless the Director concerned or the Regional Forester concerned rejects such appraisal within 45 days after submission.
Name:Energy Savings and Industrial Competitiveness Act
Sponsor:Sen. Rob Portman (R-OH)
Appraisal Issue:Contains "green" appraisal amendments on appraiser competency and information to appraisers
Name:Keep America's Waterfronts Working Act
Sponsor: Rep. Chellie Pingree (D-ME)
Appraisal Issue: The Secretary shall treat as non-Federal match the value of a working waterfront or interest in a working waterfront, including conservation and other easements, that is held in perpetuity by a qualified holder, if the working waterfront or interest is identified in the application for the grant and acquired by the qualified holder within 3 years of the grant award date, or within 3 years after the submission of the application and before the end of the grant award period. Such value shall be determined by an appraisal performed at such time before the award of the grant as the Secretary considers appropriate
S. 838/H.R. 1958
Name:To amend the Truth in Lending Act to include retrofit loans such as property assessed clean energy loans, and for other purposes.
Sponsor:Sen. Tom Cotton (R-AR)/Rep. Brad Sherman (D-CA)
Appraisal Issue:Would require TILA disclosures for Property Assessed Clean Energy loans
Name:Community Lending Enhancement and Regulatory Relief Act
Sponsor:Blaine Luetkemeyer (R-MO)
Appraisal Issue:Exempts Dodd-Frank subprime loan requirements (2 appraisals in flipping and complete interior inspection appraisal) for loans greater than $250,000. Exempts appraisals and evaluations completed for subprime loan requirements from USPAP.
Name:Endangered Species Management Self-Determination Act
Sponsor:Blaine Luetkemeyer (R-MO)
Appraisal Issue:Contains regulatory "takings" provision with compensation determined by 2 "licensed independent appraisers"
Name:A bill to amend the Federal Deposit Insurance Act to clarify
capital requirements for certain acquisition, development, or
Sponsor:Rep. Robert Pittenger (R-N.C.)
Appraisal Issue:Exempts certain loans from High Volatility Commercial Real Estate (Basel II) requriements including loans that “(i) the loan-to-value ratio is less than or equal to the applicable maximum supervisory loan-to-value ratio as determined by the appropriate Federal banking agency; and “(ii) the borrower has contributed capital of at least 15 percent of the real property’s appraised, ‘as completed’ value to the project
Name:Restoring Board Immunity(RBI) Act
Sponsor:Darrell Issa (R-CA)
Appraisal Issue:To help States combat abuse of occupational licensing laws by economic incumbents, to promote competition, to encourage innovation, to protect consumers, and to facilitate the restoration of antitrust immunity to State occupational boards, and for other purposes.