US HR6369

Bill

To waive certain requirements with respect to in-person appraisals, and for other purposes.

Introduced
03/23/2020

In Committee
03/23/2020

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To waive certain requirements with respect to in-person appraisals, and for other purposes. This bill allows interior inspection appraisal requirements with respect to certain loans to be waived through the end of the COVID-19 (i.e., coronavirus disease 2019) emergency period if specified requirements are met. An interior inspection may be waived if (1) an exterior inspection is performed in conjunction with certain contemporaneous verifications, such as video or photographs by the borrower; and (2) an interior inspection may be ordered at a later date.

AI Summary

This bill allows for the waiver of interior inspection requirements for certain mortgage appraisals during the COVID-19 emergency period, as long as an exterior inspection is conducted along with other verification methods like video or photographic documentation by the borrower. The bill requires the Federal Housing Commissioner and the Federal Housing Finance Agency to issue rules or guidance to implement these temporary flexibility measures while preserving program goals and consumer protection. The COVID-19 emergency period is defined as starting from the date of the bill's enactment and ending when the national emergency declaration related to the COVID-19 pandemic is terminated by the Federal Emergency Management Agency.

Committee Categories

Business and Industry

Sponsors (2)

Brad Sherman (D)*, Maxine Waters (D),

Last Action

Referred to the House Committee on Financial Services. (on 03/23/2020)

Official Document

https://www.congress.gov/bill/116th-congress/house-bill/6369/all-info

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/house-bill/6369/all-info
BillText	https://www.congress.gov/116/bills/hr6369/BILLS-116hr6369ih.pdf
Bill	https://www.congress.gov/116/bills/hr6369/BILLS-116hr6369ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HR6321	Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act	Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, Education and Labor, Small Business, the Judiciary, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
HR6379	Take Responsibility for Workers and Families Act Workforce Emergency Response Act of 2020	Referred to the Committee on Appropriations, and in addition to the Committees on the Budget, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
HR6791	COVID-19 Safe Home Appraisal Act of 2020	Referred to the Subcommittee on Economic Opportunity.	Related

Bill > HR6369

US HR6369

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary