Bill > HR8402

This bill, the Getting Renewable and Energy Efficient Neighborhoods Appraisals Act of 2024 (or the GREEN Appraisals Act of 2024), aims to provide accurate energy appraisals in connection with residential mortgage loans. Key provisions include requiring creditors to disclose to borrowers their right to provide an energy report for consideration during the home appraisal process, and mandating that qualified appraisers must take the information in the energy report into account when developing the appraised value. The bill also establishes an advisory committee to advise government agencies on implementing the requirements, and directs these agencies to issue guidance and require creditors to use origination and underwriting systems that are consistent with the new energy appraisal considerations.