Statement: Bunton Pleased Homebuyer Assistance Act Passes House of Representatives
(WASHINGTON) September 13, 2019 – "The Appraisal Foundation President David Bunton issued the following statement after the U.S. House of Representative passed the Homebuyer Assistance Act with overwhelming bipartisan support. H.R. 2852 passed 419 to 5. The legislation now moves to the Senate for consideration.
“The Appraisal Foundation is pleased that the U.S. House of Representatives passed the Homebuyer Assistance Act with very strong bipartisan support. The bill brings reliefs to homebuyers through expanded access to qualified appraisers using the Federal Housing Administration (FHA) program, and speeds the time of the transaction closing. For the FHA, it better ensures safety and soundness of the real estate transaction.
More importantly, this bill expands opportunities for state licensed appraisers to once again perform appraisals for FHA loans without having to become state certified. Prior to the implementation of the Housing and Economic Recovery Act (HERA) of 2008, state licensed appraisers were allowed to conduct appraisals for FHA loans.”
The Appraisal Foundation is the nation’s foremost authority on the valuation profession. The organization sets the Congressionally-authorized standards and qualifications for real estate appraisers, and provides voluntary guidance on recognized valuation methods and techniques for all valuation professionals. This work advances the profession by ensuring appraisals are independent, consistent, and objective. More information on The Appraisal Foundation is available at www.appraisalfoundation.org.
Media Contact: David Greer
Director of Communications
The Appraisal Foundation
direct phone 202.624.3048