3.0.0 1723 2023-01-11T19:50:09Z 2023-01-11T19:50:09Z House H HR 2007-03-27 110 hsba00 Financial Services Committee House Standing hsba04 Housing and Insurance Subcommittee Referred to 2007-06-07T20:00:09Z Referred to 2007-03-27T14:33:25Z 2007-06-07 hsba04 Housing and Insurance Subcommittee 1 House committee actions Referred to the Subcommittee on Housing and Community Opportunity. Committee 2007-03-27 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-03-27 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-03-27 Introduced in House IntroReferral 1000 9 Library of Congress W000801 Rep. Wilson, Charles A. [D-OH-6] Charles Wilson D OH A. 6 N C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2007-03-27 True Housing and Community Development Apartment houses Economics and Public Finance Federally-guaranteed loans Finance and Financial Sector Fines (Penalties) Law Mortgage guaranty insurance Real estate appraisal Rural housing Single family housing Housing and Community Development 00 2007-03-27 Introduced in House 2007-04-27T18:48:38Z Fair FHA Appraisals Act of 2007 - Amends the National Housing Act to subject to civil money penalties actions that improperly influence appraisals for an FHA insured mortgage for a small-family residence by compensating, instructing, inducing, coercing, or intimidating any person who conducts an appraisal in connection with such mortgage in order to cause the appraised value to be based on any other factor other than the independent judgment exercised in accordance with professional standards.

Modifies FHA mortgage insurance appraisal standards to require that: (1) the appraisal be conducted by an appraiser selected by the Secretary of Housing and Urban Development on a rotating basis, mortgage-by-mortgage, from a list of appraisers (blind draws) developed by the Secretary; and (2) an authorized mortgagee use only appraisers selected in accordance with such list.

Restricts use by a qualified appraiser of the assistance of others to cases where a limited number of appraisals is conducted within a limited rural area.

]]> Fair FHA Appraisals Act of 2007 Official Title as Introduced To amend the National Housing Act to ensure fair appraisals in connection with mortgages insured under the FHA single family mortgage insurance program. Introduced in House IH Display Title Fair FHA Appraisals Act of 2007 Short Titles as Introduced Fair FHA Appraisals Act of 2007 Introduced in House 2007-03-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr1723ih/xml/BILLS-110hr1723ih.xml 2007-06-07 Referred to the Subcommittee on Housing and Community Opportunity. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.