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 definition of 'unacceptable appraisal practice' includes use of crime-rate references without adequate foundation, which may constrain neighborhood-based valuation adjustments and reduce the ability to price in crime-related market effects.
- Appraiser reimbursement obligation for subsequent appraisals ordered due to discrimination findings creates a new liability stream for appraisers and may increase professional liability insurance costs.
- The 7-year document retention requirement for creditors creates a new compliance burden and potential discovery liability in fair-lending litigation.
Section numbers refer to the bill text the analysis read — linked under Primary records below.
Who it affects
Ordinary borrowers gain transparency into appraisal practices and a formal mechanism to challenge potentially biased or deficient appraisals before loan closing, reducing the risk of discrimination and inflated or deflated valuations. The public database enables researchers and regulators to detect systemic bias in appraisal markets. Creditors bear the cost of subsequent appraisals when deficiencies are found, which may modestly increase lending costs but aligns incentives toward accuracy.
Who stands to gain
- appraisal review and quality-control service providers
- fair-lending litigation firms and consultants
- appraisal technology and data analytics vendors
Named in the bill
Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), Federal Housing Administration (FHA), Department of Agriculture, Department of Veterans Affairs, Federal Housing Finance Agency (FHFA), Bureau of Consumer Financial Protection (CFPB), Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Appraisal Subcommittee of the Federal Financial Institutions Examination Council — and 2 more
Where it stands
7 cosponsors: 7 Democrats.
- Jul 17, 2025 — Introduced · Congress.gov: “Introduced in Senate”
- Jul 17, 2025 — Referred to Senate Committee on Banking, Housing, and Urban Affairs · Congress.gov: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Money around this bill
2 lobbying clients named this bill on 2 disclosure filings across 1 quarter, Jun 2026 to Jun 2026. Those filings disclosed $1,293,057 in lobbying spend. A filing names 48 bills on average, so that figure is what each filing reported, not a share belonging to this bill.
More lobbying clients named this bill than 41% of bills with at least one filing.
Raphael Warnock, the sponsor, reported $75,250 in PAC receipts in the 2026 cycle.
- Mortgage Bankers Association — $1,220,000 on 1 filing
- National Fair Housing Alliance — $73,057 on 1 filing
Lobbying Disclosure Act filings through Jul 20, 2026. A filing shows who paid to lobby on a bill it names, not what changed.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (18,980 characters) on Aug 12, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
Money — Senate Lobbying Disclosure Act filings whose specific-issue field names this bill for quarters ending Jun 2026 to Jun 2026. A filing's amount is reported whole beside the median number of bills a filing names; it is never divided across them. PAC receipts are FEC-reported contributions to the sponsor's candidate committee in the 2026 cycle.
As of — lobbying records through Jul 20, 2026 · page rendered 2026-10-20.
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