H.R. 5520: Portal for Appraisal Licensing Act of 2025

This bill, known as the Portal for Appraisal Licensing Act of 2025, aims to create a centralized online system called the "Portal for Appraiser Credentialing and AMC Registration Information." This new system will streamline various aspects of appraiser licensing and certification. The main features and provisions of the bill include:

Centralized Portal

The bill mandates the establishment of a cloud-based portal that serves several important functions:

• Provides appraisers and appraisal management companies (AMCs) with a central location to submit and manage their license, certification, and registration applications and renewals.
• Connects with state licensing agencies to share information regarding applications and renewals, including educational qualifications, examination results, and background checks.
• Facilitates payment of license and certification fees and the delivery of letters of good standing.
• Allows the use of existing platforms, if available, for the portal's infrastructure.

Background Checks

The bill includes provisions for managing background checks for appraisers and AMCs:

• Grants state officials access to relevant criminal history information to support background checks as required for licensing and certification.
• Utilizes the Appraisal Subcommittee as a central agent to request and distribute necessary background check information from the federal level to state agencies.
• Requires appraisers and others needing background checks to submit fingerprints through the portal for processing by the FBI.
• Ensures background checks comply with regulatory standards set by federal financial institutions.

Education and Unique Identification

The portal will also maintain records relevant to educational requirements for appraisers:

• State agencies can notify the portal of approved educational courses.
• The portal will maintain a unique identifier for each individual and appraisal management company using the system, facilitating tracking and management.

States' Rights and Fees

The bill ensures that states can continue to oversee the licensing and certification process independently:

• States retain their authority over licensing decisions while utilizing the streamlined processes offered by the portal.
• Credentialing fees and state-specific information will be submitted through the portal in a simplified manner.

Advisory Committee

The legislation establishes an advisory committee to guide the Appraisal Subcommittee in implementing the portal:

• Membership will include representatives from industry associations, appraisers, lenders, AMCs, and state licensing agencies.

Funding and Grants

To support the operations of the portal, the Appraisal Subcommittee may:

• Charge reasonable user fees to individuals and AMCs using the portal, ensuring these costs remain neutral with respect to revenue.
• Provide grants to state licensing agencies to assist them in linking their systems with the portal.

Conclusion

By creating this portal and establishing standardized processes, the bill aims to enhance the efficiency and accessibility of appraiser credentialing while maintaining necessary oversight and compliance with federal regulations.

Relevant Companies

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