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Legislation Introduced to Address Appraiser Shortage

Senator John Thune (R-SD) has introduced legislation in the U.S. Senate allowing licensed real estate appraisers to once again perform FHA appraisals.  Currently, only certified appraisers, who must meet higher qualifications, are the only appraisers permitted to perform the work, as a result of National Housing Act of 2008.  The number of active Licensed Residential real estate appraisers fell by 74% in the last 10 years.

Click Here to view The Appraisal Foundation press release on this legislation.