CUNA backs appraisal, diversity bills prior to markup

CUNA supported two bills marked up Thursday by the House Financial Services Committee, the Homebuyer Assistance Act of 2019 (H.R. 2852) and the Ensuring Diverse Leadership Act of 2019 (H.R. 281).

H.R. 2852 would ensure the Federal Housing Administration’s appraiser requirements are identical to those currently employed by Fannie Mae and Freddie Mac concerning licensed appraisers.

“As a result, credit unions would be able provide members with more choices for federally-backed loans without any concerns that an appraisal will not satisfy a program’s requirements due to their differing appraiser certification standards,” wrote CUNA President/CEO Jim Nussle. “CUNA supports this legislation and believes it is a positive change for both consumers and lenders in the mortgage market.”

 

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