CSBS Issue Briefings - January 2020

CSBS ISSUE BRIEFING

Talking Points • The appraiser waiver process needs to be clarified in a way that it would help address the limited appraiser availability in many rural states. • In 2017 state and federal banking agencies met with bankers across the country and encouraged the use of the waiver to deal with appraiser shortages. • Tennessee and North Dakota have held outreach sessions to bring together various stakeholders to address appraiser shortages and related issues experienced in their states. • The National Registry of Real Estate Appraisers does not accurately reflect local shortages of appraisers. • Congress acknowledged in the Economic Growth, Regulatory Relief, and Consumer Protection Act that obtaining appraisals for certain rural transactions are an issue and that an avenue for relief is needed. 

SME Contact: Alisha Sears, Senior Analyst, Policy Development, (202) 759-9403, ASears@csbs.org

Date Updated: 1/10/2020