The House passed two CUNA-supported bills on appraiser requirements and diversity Tuesday, the Homebuyer Assistance Act of 2019 (H.R. 2852) and the Ensuring Diverse Leadership Act of 2019 (H.R. 281). CUNA wrote in support of both bills when they were passed by the House Financial Services Committee in July.
H.R. 2852 would ensure the Federal Housing Administration’s appraiser requirements are identical to those currently employed by Fannie Mae and Freddie Mac for licensed appraisers. It passed 419-5.
H.R. 281 would require the Federal Reserve banks to interview at least one candidate reflective of gender diversity and one candidate of racial of ethnic diversity when appointing presidents. It passed by voice vote.
“We thank the House for their support of these bills. The Homebuyer’s Assistance Act will bring positive changes to both consumers and lenders in the mortgage market, and the Ensuring Diverse Leadership Act is a much-needed step toward bringing diversity to Federal Reserve Bank leadership,” said CUNA President/CEO Jim Nussle.