[Congressional Record Volume 165, Number 94 (Wednesday, June 5, 2019)]
[Senate]
[Pages S3255-S3256]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. THUNE (for himself, Mr. Tester, Mr. Hoeven, Mr. King, Mr. 
        Rounds, and Ms. Smith):
  S. 1722. A bill to amend the National Housing Act to authorize State-
licensed appraisers to conduct appraisals in connection with mortgages 
insured by the FHA and to ensure compliance with the existing appraiser 
education and competency requirements, and for other purposes; to the 
Committee on Banking, Housing, and Urban Affairs.
  Mr. THUNE. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 1722

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``FHA Appraiser Eligibility 
     Expansion Act''.

     SEC. 2. APPRAISER STANDARDS.

       (a) Certification or Licensing.--
       (1) In general.--Section 202(g)(5) of the National Housing 
     Act (12 U.S.C. 1708(g)(5)) is amended by striking 
     subparagraphs (A) and (B) and inserting the following:
       ``(A) be certified or licensed by the State in which the 
     property to be appraised is located;
       ``(B) be knowledgeable of the Uniform Standards of 
     Professional Appraisal Practice and the appraisal 
     requirements established by the Federal Housing 
     Administration;
       ``(C) meet the competency requirements described in the 
     Uniform Standards of Professional Appraisal Practice before 
     accepting an assignment; and
       ``(D) have demonstrated verifiable education in the 
     appraisal requirements established by the Federal Housing 
     Administration under this subsection, which shall include the 
     completion of a course or seminar that educates appraisers on 
     those appraisal requirements and is provided by the Federal 
     Housing Administration or is approved by the Course Approval 
     Program of the Appraiser Qualification Board of the Appraisal 
     Foundation or a State appraiser certifying and licensing 
     agency.''.
       (2) Application.--Subparagraph (D) of section 202(g)(5) of 
     the National Housing Act (12 U.S.C. 1708(g)(5)), as added by 
     paragraph (1), shall not apply with respect to any appraiser 
     approved by the Federal Housing Administration to conduct 
     appraisals on mortgages insured under title II of the 
     National Housing Act (12 U.S.C. 1707 et seq.) on or before 
     the date on which the mortgagee letter or other guidance or 
     regulations take effect under subsection (c)(3).
       (b) Compliance With Verifiable Education and Competency 
     Requirements.--Effective beginning on the date on which the 
     mortgagee letter or other guidance or regulations take effect 
     under subsection (c)(3), no appraiser may conduct an 
     appraisal for any mortgage insured under title II of the 
     National Housing Act (12 U.S.C. 1707 et seq.) unless--
       (1) the appraiser is in compliance with the requirements 
     under subparagraphs (A), (B), and (C) section 202(g)(5) of 
     such Act (12 U.S.C. 1708(g)(5)), as amended by subsection 
     (a); and
       (2) if the appraiser was not approved to conduct such 
     appraisals before the date on which the mortgagee letter or 
     other guidance or regulations take effect under subsection 
     (c)(3), the appraiser is in compliance with subparagraph (D) 
     of such section 202(g)(5).
       (c) Implementation.--Not later than the 240 days after the 
     date of enactment of this Act, the Secretary of Housing and 
     Urban Development shall issue a mortgagee letter or other 
     guidance or regulations that shall--
       (1) implement the amendments made by subsection (a);
       (2) clearly set forth all of the specific requirements 
     under section 202(g)(5) of the National Housing Act (12 
     U.S.C. 1708(g)(5)), as amended by this Act, for approval to 
     conduct appraisals under title II of such Act (12 U.S.C. 1707 
     et seq.), which shall include--
       (A) providing that, before the effective date of the 
     mortgagee letter or other guidance or regulations, a 
     demonstration of competency and completion of training that 
     meet the requirements under subparagraphs (B), (C), and (D) 
     of such section 202(g)(5), as amended by subsection (a), 
     shall be considered to fulfill the requirements under such 
     subparagraphs; and

[[Page S3256]]

       (B) providing a method for appraisers to demonstrate such 
     prior competency and completion; and
       (3) take effect not later than the date that is 180 days 
     after the date on which the Secretary issues the mortgagee 
     letter or other guidance or regulations.
                                 ______