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The bill enhances homeowner protections, appraisal transparency, and anti-discrimination enforcement but does so at the cost of higher compliance and implementation expenses, privacy and industry risks, and possible transaction delays.
Homeowners can request a reconsideration or a second appraisal before closing or within 60 days of denial, helping correct undervaluations and protect home equity.
Researchers, policymakers, and regulators gain access to a consolidated appraisal-level dataset (including legacy data) that increases market transparency and enables better study of housing trends and discrimination patterns.
Creditors must report suspected discrimination and appraisers can be required to reimburse creditors after a final determination, strengthening anti-discrimination enforcement in lending and appraisal practices.
Creditors and financial institutions will face increased compliance costs (reviews, ordering/ paying subsequent appraisals, reporting, recordkeeping) and those costs could be passed on to borrowers as higher fees or loan costs.
Making appraisal-level data public raises privacy risks by potentially exposing consumer personal information or sensitive property details.
Greater administrative burden, increased liability risk, and new reporting requirements for appraisers could reduce the available appraiser supply or raise appraisal prices.
Based on analysis of 3 sections of legislative text.
Creates a consumer right to request appraisal reconsideration or a subsequent appraisal, requires lenders to adopt standardized procedures and pay for follow-up appraisals, directs FHFA rulemaking, and orders a GAO study on a public appraisal database.
Introduced November 7, 2025 by Ayanna Pressley · Last progress November 7, 2025
Adds a new consumer right to request reconsideration of an appraisal value or to obtain a subsequent appraisal for mortgage loans secured by a consumer’s dwelling, and requires lenders to maintain a standardized, consumer-initiated reconsideration and resolution process, order and pay for follow-up appraisals when appropriate, and retain related records. Directs the Federal Housing Finance Agency to write implementing rules within one year and requires the Government Accountability Office to report within 240 days on the feasibility, risks, and design of a national, public, appraisal-level database from federal housing agencies. The bill creates new procedures and disclosure requirements for creditors, requires reporting of apparent appraisal deficiencies or discrimination to regulators, sets a seven-year document retention period, and tasks agencies and Congress with evaluating data sharing, privacy, competition, and regulatory impacts before any public appraisal database is created.