Your appraisal just became public—and borrowers can now challenge it.
S. 2322 — Appraisal Modernization Act · Filed by Raphael Warnock (D-GA) · 7 cosponsors · Introduced Jul 17, 2025 · Referred to committee
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What it does
This bill creates a public searchable database of residential appraisal data from federal mortgage agencies (Fannie Mae, Freddie Mac, FHA, USDA, VA) going back to 2017, updated quarterly, to allow public scrutiny of whether appraisals are fair and consistent across borrowers and communities. It also gives borrowers the right to request a creditor review an appraisal they believe is unsupported, discriminatory, or uses bad practices, and requires creditors to order a new appraisal at their own expense if deficiencies are found.
Why we flagged it
The bill's operative mechanism is twofold: (1) mandatory public disclosure of appraisal data to enable detection of systemic bias and inconsistency, and (2) consumer rights to challenge and correct deficient appraisals. Both are accountability and transparency measures, not subsidies or deregulation.
What the text implies
- The public database will expose appraisal disparities by race, ethnicity, and geography at the appraisal level, enabling civil-rights litigation and regulatory enforcement; appraisers and appraisal management companies may face increased scrutiny and liability.
- Creditors' obligation to order subsequent appraisals at their own expense when deficiencies are found may incentivize stricter initial appraisal quality control and reduce use of lower-cost, lower-quality appraisers.
The full analysis lists 5 implications of this text.
Who stands to gain
appraisal review and quality-control service providers; fair-lending litigation firms and consultants; appraisal technology and data analytics vendors