S. 1635 · Where this bill is now
In committee
Introduced in the Senate, May 7, 2025
What this bill does
In plain words · AI-written from the official summaryUpdates rules for real estate appraisers
The bill changes who can do appraisals for mortgages backed by federal programs like FHA loans or those involving federally insured banks. Federal employee appraisers would be allowed to work across state lines, and the bill creates clearer training standards. It also lets more people—including appraisal trainees—help with appraisals or join the national registry of approved appraisers.
How it affects you
If you're getting a federally backed mortgage, these changes could make it easier to find available appraisers, especially in areas where they're hard to find. Federal employee appraisers and people training to become appraisers may find new job opportunities. The bill also directs money to states to help build up the pool of qualified appraisers.
Read the official summary (Introduced in Senate, May 7, 2025)
Appraisal Industry Improvement Act
This bill revises the eligibility criteria for real estate appraisers who are authorized to perform appraisals for federally related mortgage loans.
As background, the Federal Financial Institutions Examination Council’s Appraisal Subcommittee oversees state licensing and certification of appraisers and maintains a registry of appraisers who are eligible to perform federally related appraisals—those tied to mortgages involving federally insured banks, federally backed programs (e.g., programs administered by the Federal Housing Administration), or government sponsored enterprises (e.g., Fannie Mae).
The bill
• allows federal employees who are state certified or licensed as an appraiser to perform federally related appraisals in states and territories other than the state or territory in which they are certified or licensed,
• requires appraisers to meet competency requirements established in the Uniform Standards of Professional Appraisal Practice, and
• prohibits an appraiser who is only certified by a nationally recognized professional appraisal organization from performing federally related appraisals.
The bill also establishes requirements for qualifying education for these appraisers.
The bill expands the national registry of state certified and licensed appraisers to include credentialed trainees. The bill also allows state certified appraisers to use the assistance of a credentialed trainee or an unlicensed trainee.
Finally, under the bill, the subcommittee (1) must make grants to state certifying and licensing agencies for the purpose of addressing appraiser workforce needs, and (2) may decrease certain fees for appraisal management companies if the subcommittee determines that the fees result in adverse consequences or are not appropriately tailored.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionS. 1635
A BILL
Appraisal Industry Improvement Act
Sponsor: Sen. Kevin Cramer (R-ND) · Introduced May 7, 2025 · Finance and Financial Sector · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action May 7, 2025: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.”