Appraisal Modernization Act of 2025

[RCA]

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

“(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 “(ii) forward the appraisal report and the creditor’s summary of findings to the appropriate local, State, or Federal enforcement agency.

Notably, numerous senators claim to have read this short bill. But, clearly, they couldn't understand the implications for appraisers.

Looking at some of the authors of the bill, they appear to be low-level "attorneys" working at a salary of $110K or so. This piece of legislation seems to be shoddy, and the authors' competence is questionable. The Appraisal Institute should be looking into this, except there is the issue of their woke ideology and acting as a proxy for radical liberals in the government.

Oh, yeah, it's probably a deep-rooted problem. But, I wouldn't bet on this proposed legislation surviving in its current form. If I were appraising some house and the lender told me they thought I was discriminating because of race or some other issue and should pay for another appraisal, I can tell you that for sure, I wouldn't step forth to pay a cent for any such thing. I would take it to the Supreme Court if I had the resources [Question: Would I rather pay some attorney(s) or pay for the appraisal? And, that is of course a realistic question. ... No, if this law were being put into practice, I wouldn't do such an appraisal in the first place.

 

[RCA]

No comment? Interesting. I think appraisers only have themselves to blame.

 

[ZZGAMAZZ]

No comment? Interesting. I think appraisers only have themselves to blame.

How is this legislation possible?????? What if the author of the legislation was made to be responsible to pay each unhappy consituent $1,000 for every new bill introduced?????

 

[Sandra Koutsopoulos]

I suspect there are many 'bills' that are written that thankfully are never passed because smarter brains with broader knowledge refuse to bring them to the floor for a vote, or lobby against them, or expose them to the glorious light of day (and social media) to be exposed for what they are. That said, there's still a lot of stupid out there. Hope for the best; plan for the worst... and survive.

 

[RCA]

I suspect there are many 'bills' that are written that thankfully are never passed because smarter brains with broader knowledge refuse to bring them to the floor for a vote, or lobby against them, or expose them to the glorious light of day (and social media) to be exposed for what they are. That said, there's still a lot of stupid out there. Hope for the best; plan for the worst... and survive.

Grok says only 7% of the bills in the Senate ever become law. It is good to know about these things. But at a 7% success rate, you are right.

 

[sputnam]

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

Okay. So, it looks like there is a lot in there that isn't good. What is the status of the proposal?