I 

117TH CONGRESS 

1ST SESSION H. R. 3008 

To amend the National Housing Act to authorize State-licensed appraisers 

to conduct appraisals in connection with mortgages insured by the FHA 

and to require compliance with the existing appraiser education requirement, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 7, 2021 

Mr. SHERMAN (for himself and Mr. TAYLOR) introduced the following bill; 

which was referred to the Committee on Financial Services 

A BILL 

To amend the National Housing Act to authorize Statelicensed appraisers to conduct appraisals in connection 

with mortgages insured by the FHA and to require compliance with the existing appraiser education requirement, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Homebuyer Assistance 

5 Act of 2021’’. 


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•HR 3008 IH

1 SEC. 2. APPRAISAL STANDARDS FOR SINGLE-FAMILY HOUS2 ING MORTGAGES. 

3 (a) CERTIFICATION OR LICENSING.—Paragraph (5) 

4 of section 202(g) of the National Housing Act (12 U.S.C. 

5 1708(g)) is amended— 

6 (1) by striking subparagraph (A) and inserting 

7 the following new subparagraph: 

8 ‘‘(A)(i) in the case of an appraiser for a 

9 mortgage for single-family housing, be certified 

10 or licensed by the State in which the property 

11 to be appraised is located; and 

12 ‘‘(ii) in the case of an appraiser for a 

13 mortgage for multifamily housing, be certified 

14 by the State in which the property to be ap15 praised is located; and’’; and 

16 (2) in subparagraph (B), by inserting before 

17 the period at the end the following: ‘‘, which, in the 

18 case of appraisers for any mortgage for single-family 

19 housing, shall include completion of a course or sem20 inar that consists of not less than 7 hours of train21 ing regarding such appraisal requirements that is 

22 approved by the Course Approval Program of the 

23 Appraiser Qualifications Board of the Appraisal 

24 Foundation or a State appraiser certifying and li25 censing agency’’. 


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1 (b) COMPLIANCE WITH VERIFIABLE EDUCATION RE2 QUIREMENTS; GRANDFATHERING.—Effective beginning 

3 on the date of the effectiveness of the mortgagee letter 

4 or other guidance issued pursuant to subsection (c) of this 

5 section, notwithstanding any choice or approval of any ap6 praiser made before such date of enactment, no appraiser 

7 may conduct an appraisal for any mortgage for single8 family housing insured under title II of the National 

9 Housing Act (12 U.S.C. 1707 et seq.) unless such ap10 praiser is, as of such date of effectiveness, in compliance 

11 with— 

12 (1) all of the requirements under section 

13 202(g)(5) of such Act (12 U.S.C. 1708(g)(5)), as 

14 amended by subsection (a) of this section, including 

15 the requirement under subparagraph (B) of such 

16 section 202(g)(5) (relating to demonstrated 

17 verifiable education in appraisal requirements); or 

18 (2) all of the requirements under section 

19 202(g)(5) of such Act as in effect on the day before 

20 the date of the enactment of this Act. 

21 (c) IMPLEMENTATION.—Not later than the expiration 

22 of the 240-day period beginning on the date of the enact23 ment of this Act, the Secretary of Housing and Urban 

24 Development shall issue a mortgagee letter or other guid25 ance that shall— 


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1 (1) implement the amendments made by sub2 section (a) of this section; 

3 (2) clearly set forth all of the specific require4 ments under section 202(g)(5) of the National 

5 Housing Act (as amended by subsection (a) of this 

6 section) for approval to conduct appraisals under 

7 title II of such Act for mortgages for single-family 

8 housing, which shall include— 

9 (A) providing that the completion, prior to 

10 the effective date of such mortgagee letter or 

11 guidance, of training meeting the requirements 

12 under subparagraph (B) of such section 

13 202(g)(5) (as amended by subsection (a) of this 

14 section) shall be considered to fulfill the re15 quirement under such subparagraph; and 

16 (B) providing a method for appraisers to 

17 demonstrate such prior completion; and 

18 (3) take effect not later than the expiration of 

19 the 180-day period beginning upon issuance of such 

20 mortgagee letter or guidance. 

Æ 


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