Appraisal Modernization Act of 2025

[bluechip]

Appraisers, hands up if you’re thrilled to watch the circus this disaster is about to unleash. OH GOODIE, ANOTHER WINNER.

Because what we all wanted was a shiny new public database of our appraisal details so they can play “Find the Discrimination.”

And the best part? If a creditor feels your report might be discriminatory—no actual proof needed—you get the honor of paying for a second appraisal yourself. Truly a masterclass in fair policy.

What dummy, I mean politician dreamed this BS up?

The absolute worst part of this bill is that it empowers lenders to force an appraiser to pay for a second appraisal if the lender merely has “reason to believe” the original report is discriminatory.

“(B) Discrimination.—If the creditor has reason to believe that an appraisal report reflects discrimination, the creditor shall—
“(i) order a subsequent appraisal, the cost of which shall be paid by the original appraiser; and

 

[Bobby Bucks]

This is getting closer every day to the Communist Chinese policy of charging the family of a prisoner executed for crimes against the state for the price of the bullet used in the execution. The 5th column isn't in the shadows any longer, they're in plain sight.

 

[Non Sequitur]

I'm sure the usual suspects funded and lobbied for this mess. A war has been raging against independent residential appraisers for a long time, this is just the latest battle.

 

[bluechip]

This would be Raphael Warnocks baby. If the dems get back in power this will be the law of the land. We can not under any circumstances allow this to ever pass. This will be the end of residential appraisers.

 

[Non Sequitur]

This would Raphael Warnocks baby. If the dems get back in power this will be the law of the land. We can not under any circumstances allow this to ever pass. This will be the end of residential appraisers.

Industry people are pulling his strings, he did not dream this up on his own.

 

[J Grant]

Isnt; the guy you elected supposed to stop things like this?

I am not in favor, but it is among the least of appraisers' problems IMO, even if it does pass.

 

[TerryRohrer]

It will be interesting, as the market develops, to see how the prices and turn times of the second appraisal compare to those for the first. Will the second appraisal be subject to the same treatment? Imagine a string of 653 appraisals before closing can occur (and the boost to the economy!). Since the market for first appraiser will likely shrink drastically, are waivers, hybrids, desktops, etc, going to be classified as appraisals (if not, then the GSEs are likely pushing this to be rid of appraisers finally)?

 

[George Hatch]

How do they get past that pesky intended user/intended use thing?

 

[bluechip]

Isnt; the guy you elected supposed to stop things like this?

I am not in favor, but it is among the least of appraisers' problems IMO, even if it does pass.

You were in the booth with me while I cast my ballot in secret. Cool.

 

[Essexfenwick]

This would Raphael Warnocks baby. If the dems get back in power this will be the law of the land. We can not under any circumstances allow this to ever pass. This will be the end of residential appraisers.

The leftist assault on the inherently conservative small businesses of all types is across the board. This is just a remote corner of the genocide attempt. Small business book balancing, work ethic, desire to make money, desire to reduce taxes, fees and regulations, large numbers difficult to control makes it a natural target for collectivists.