U.S. Congress - H.R.1723 Fair FHA Appraisals Act of 2007
H.R.1723 - Fair FHA Appraisals Act of 2007
To amend the National Housing Act to ensure fair appraisals in connection with mortgages insured under the FHA single family mortgage insurance program. view all titles (2)
All Bill Titles
- Official: To amend the National Housing Act to ensure fair appraisals in connection with mortgages insured under the FHA single family mortgage insurance program. as introduced.
- Short: Fair FHA Appraisals Act of 2007 as introduced.
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Official Summary
3/27/2007--Introduced.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 intimidatinOfficial Summary
3/27/2007--Introduced.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.
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bills affecting the appraisal insustry
fair fha appraisals act of 2007 (introduced in house)[hr1723.ih] 6 . mortgage reform and anti-predatory lending act of 2007 (referred to senate committee after being received from house)[hr3915.rfs] ...
apellaâs review of cuomo â gse home valuation code of conduct
âthe lender or any third-party specifically authorized by the lenderâ holds the pose similar to a bill introduced march 27th, 2007 by mr. wilson of ohio titled hr 1723 fair fha appraisals act of 2007 with the purposes to amend the ...
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