Sponsor
Ayanna Pressley
Representative · D-MA
Representative · D-MA
Official title: 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.
Introduced November 7, 2025 by Ayanna Pressley · Last progress November 7, 2025
The bill boosts homeowners' ability to challenge appraisals and creates a consolidated appraisal database to improve oversight and detect discrimination, but does so at the cost of higher administrative and taxpayer expenses, privacy and professional risks, potential market delays, and some safety/competitive concerns.
Homeowners can request a reconsideration or a second appraisal before closing or within 60 days of denial, giving borrowers a clearer, faster mechanism to correct undervaluations and protect home equity.
Federal and state regulators plus approved researchers gain access to a consolidated appraisal-level dataset, improving supervision, enforcement, research into market trends and detection of discriminatory patterns.
Creditors must report suspected discrimination and appraisers may be required to reimburse creditors when discrimination is finally determined, strengthening anti-discrimination enforcement in lending and appraisal practices.
Creditors, appraisal management companies, appraisers, and taxpayers face increased implementation and ongoing costs (additional reviews, second appraisals, reporting, database maintenance) that could raise fees, loan costs, or require taxpayer funding.
Making appraisal-level data public risks exposing consumer personal information and sensitive property details, creating privacy and safety concerns for homeowners and borrowers.
Appraisers will face greater administrative burden, potential discipline, and possible conflicts with professional-ethics norms, which could reduce appraiser supply, harm careers, and push up appraisal prices.
Based on analysis of 3 sections of legislative text.
Creates a consumer right to request appraisal reconsideration or a subsequent appraisal, requires creditor procedures and FHFA rulemaking, and orders a GAO study on a public appraisal database.
Creates a new consumer right to request reconsideration of an appraisal or a subsequent appraisal for mortgages secured by a consumer's dwelling, requires creditors to maintain a standardized consumer-initiated reconsideration-and-resolution process, directs FHFA to issue a implementing rule within one year, and orders a GAO study on the feasibility, costs, benefits, and risks of a public, searchable appraisal-level database consolidating appraisal data from federal housing agencies. The bill sets documentation, disclosure, payment, and reporting requirements for creditors and appraisers, plus timelines for agency rulemaking and a required congressional hearing on the GAO findings.