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house Bill H.R. 2852

Should Requirements for Appraisers of FHA-Insured Mortgages be Loosened?

Argument in favor

The current requirements for appraisers of Federal Housing Administration-insured mortgages are too onerous. This has resulted in a shortage of appraisers for such homes, which is burdensome for certain types of prospective home buyers (specifically, first-home buyers, low- and moderate-income households, minorities, and those in rural areas).

Frances's Opinion
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09/09/2019
I THOUGHT SO--ANY BILL THAT HELPS THE COMMON MAN IS ALWAYS INTRODUCED BY A DEMOCRAT, BECAUSE THEY GOP CARE ONLY FOR THE RICH AND BIG CORPORATE, WHO PAY THEM!
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NoHedges's Opinion
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09/10/2019
While I cannot find much scholarly discourse on this bill, what little I can dig up on the representative proposing this legislation is seeking to represent the voters in his district. Although Mr. Sherman has been in office for more than 20 years, I saw nothing that would signal a significant increase in net worth or anything that would suggest a pattern of placing party before people. Mr. Sherman supports impeachment and has repeatedly voted to increase the Federal minimum wage. But what really cinched my decision to trust, was Representative Sherman vote to Preserve Alaska's ANWR instead of drilling it.
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J's Opinion
···
09/10/2019
Yes! And repeal Dodd Frank while you’re at it so that consumers can actually vet their appraisers and be able to know they are paying for a quality product and not padding the lender! There is NO transparency under Dodd Frank for the consumer! There is currently not nearly as much consumer protection as there used to be before Dodd Frank!
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Argument opposed

Rather than trying to increase the number of FHA appraisers, mortgage issuers and the federal government should think critically about whether and when human appraisers are necessary. Big data and automation could potentially replace the need for human appraisers. Alternatively, the de minimus threshold could be raised to decrease the number of homes that need appraisal.

Jerry's Opinion
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09/10/2019
Yeah, great, the 2008 recession was such a blast let’s do it again.
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John's Opinion
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09/10/2019
The appraisers are already as about as lame as they can be which doesn’t do much to help a homebuyer so why in God’s name make it worse! You want to make better; increase the pay and get better people.
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Edward's Opinion
···
09/10/2019
Are e going to have the last recession over again?
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed September 10th, 2019
    Roll Call Vote 419 Yea / 5 Nay
      house Committees
      Committee on Financial Services
    IntroducedMay 20th, 2019

Log in or create an account to see how your Reps voted!

Bill Activity

  • IntroReferral
    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • Floor
    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 5 (Roll no. 519). (text: CR H7572)
  • Floor
    Considered as unfinished business. (consideration: CR H7585-7586)
  • Floor
    Considered under suspension of the rules. (consideration: CR H7572-7573)
  • Floor
    Motion to reconsider laid on the table Agreed to without objection.
  • Floor
    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 419 - 5 (Roll no. 519).
  • Floor
    Considered as unfinished business.
  • Floor
    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  • Floor
    DEBATE - The House proceeded with forty minutes of debate on H.R. 2852.
  • Floor
    Considered under suspension of the rules.
  • Floor
    Mr. San Nicolas moved to suspend the rules and pass the bill, as amended.
  • Committee
    Ordered to be Reported Without Recommendation (Amended) by Voice Vote.
  • Committee
    Committee Consideration and Mark-up Session Held.
  • IntroReferral
    Referred to the House Committee on Financial Services.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
  • The house Passed September 10th, 2019
    Roll Call Vote 419 Yea / 5 Nay
      house Committees
      Committee on Financial Services
    IntroducedMay 20th, 2019

Log in or create an account to see how your Reps voted!
    I THOUGHT SO--ANY BILL THAT HELPS THE COMMON MAN IS ALWAYS INTRODUCED BY A DEMOCRAT, BECAUSE THEY GOP CARE ONLY FOR THE RICH AND BIG CORPORATE, WHO PAY THEM!
    Like (13)
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    Yeah, great, the 2008 recession was such a blast let’s do it again.
    Like (36)
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    The appraisers are already as about as lame as they can be which doesn’t do much to help a homebuyer so why in God’s name make it worse! You want to make better; increase the pay and get better people.
    Like (20)
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    Are e going to have the last recession over again?
    Like (16)
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    People need to relax. This isn't loosening regulations on buying homes, it's allowing more appraisers the ability to perform FHA work. There are three levels of appraisal licensing, and so far only levels 2 and 3 (I happen to be a level 2) have been able to perform FHA appraisals, but level 1 receives all the same necessary training and education to be able to perform them. There really wasn't any good reason for them to be excluded in the first place. I don't like having all the extra competition..but hey...capitalism...right? ;)
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    I am in favor of creating every opportunity to help people become homeowners. I don’t want to see reckless lending like we saw leading up to the Great Recession... I don’t know enough about this bill to favor it or oppose it. Please help people become homeowners when possible. But it must be done without reckless lending that sets up people for disaster when recession hits. Use caution and prudent regulations.
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    Loosing the requirements for buying homes, while well-intended, is only going to destabilize the housing market even further! The last time we loosened these kinds of requirements, we had a financial crash and the Great Recession! Why don’t we focus on building more affordable homes?!
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    While I cannot find much scholarly discourse on this bill, what little I can dig up on the representative proposing this legislation is seeking to represent the voters in his district. Although Mr. Sherman has been in office for more than 20 years, I saw nothing that would signal a significant increase in net worth or anything that would suggest a pattern of placing party before people. Mr. Sherman supports impeachment and has repeatedly voted to increase the Federal minimum wage. But what really cinched my decision to trust, was Representative Sherman vote to Preserve Alaska's ANWR instead of drilling it.
    Like (8)
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    Another ploy to stick it to the public.
    Like (7)
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    Yes! And repeal Dodd Frank while you’re at it so that consumers can actually vet their appraisers and be able to know they are paying for a quality product and not padding the lender! There is NO transparency under Dodd Frank for the consumer! There is currently not nearly as much consumer protection as there used to be before Dodd Frank!
    Like (7)
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    Appraisals should be reliable and in line with current mortgage lending requirements. One of the large systemic problems leading to the Great Recession was that some houses were over-appraised and then big mortgages were obtained for people who couldn't pay for them. We have to prevent that happening again.
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    Impeach Trump!!!
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    This isn’t changing FHA requirements just giving appraisals more latitude
    Like (5)
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    Oh a ridiculous idea... lower the standards? Really? Gee, why not drop all standards and we can have all the desks occupied?! Who’s critical thinking skills failed to engage with this proposal? If we have fewer qualified people supervising loans, we could actually have more mortgage defaults because of a greater number of unqualified able to repay loans. Anyone thought of that potential .., talk to some banks that failed during the banking crisis.
    Like (4)
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    Does anyone remember the resolution trust and why it was formed to begin with.
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    Help people become homeowners.
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    If you do not learn when making errors you will make them over and over again. History repeating itself and some just never learn. WIN Win winning 2020
    Like (3)
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    No. Loosening the rules will surely enable business to rip off consumers n the home industry...again.
    Like (3)
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    Reduce red tape
    Like (3)
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    No way. Don’t you remember the mortgage implosion?!?
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