Appraisal Modernization Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 5975 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 5975 To amend the Truth in Lending Act to require that financial institutions, appraisal management companies, appraisers, and other valuation professionals are serving the housing market in a manner that is efficient and consistent for all mortgage loan applicants, borrowers, and communities, and for other purposes; to study the feasibility of creating a national public appraisal database. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES November 7, 2025 Ms. Pressley introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To amend the Truth in Lending Act to require that financial institutions, appraisal management companies, appraisers, and other valuation professionals are serving the housing market in a manner that is efficient and consistent for all mortgage loan applicants, borrowers, and communities, and for other purposes; to study the feasibility of creating a national public appraisal database. 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 ``Appraisal Modernization Act''. SEC. 2. RECONSIDERATION OF VALUE. (1) In general.--Section 129E of the Truth In Lending Act (15 U.S.C. 1639e) is amended-- (A) by redesignating subsections (j) and (k) as subsections (k) and (l), respectively; and (B) by inserting after subsection (i) the following: ``(j) Consumer Right to Reconsideration of Value or Subsequent Appraisal.-- ``(1