summary
Introduced
07/05/2019
07/05/2019
In Committee
07/11/2019
07/11/2019
Crossed Over
09/23/2019
09/23/2019
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
Appraisal Fee Transparency Act of 2019 Appraisal Fee Transparency Act of 2019 This bill revises provisions related to real estate appraisals. Specifically, the bill adds trainee appraisers to the National Registry of Appraisers, allows the Federal Financial Institutions Examination Council's Appraisal Subcommittee to adjust annual registry fees for appraisal management companies, requires the disclosure of appraisal fees in the case of an appraisal coordinated by an appraisal management company, allows nonprofit organizations and institutions of higher education to receive certain grants, and adds a designee of the Department of Veterans Affairs to the Appraisal Subcommittee.
AI Summary
This bill, the Appraisal Fee Transparency Act of 2019, makes several changes to the regulation of real estate appraisals. It allows the Appraisal Subcommittee to adjust the annual registry fees for appraisal management companies, requires the disclosure of appraisal fees charged by appraisal management companies, adds trainee appraisers to the National Registry of Appraisers, and allows the Subcommittee to charge a lower registry fee for trainee appraisers. The bill also permits grants to be provided to nonprofit organizations and institutions of higher education to assist with compliance efforts, and adds a designee from the Department of Veterans Affairs to the Appraisal Subcommittee.
Committee Categories
Business and Industry, Housing and Urban Affairs
Sponsors (4)
Last Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 09/23/2019)
Official Document
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bill summary
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