Legislation will improve efficiency, reduce costs, and enhance accuracy in the real estate transaction appraisal process, benefiting all lenders and borrowers
WASHINGTON, July 17, 2025 /PRNewswire-PRWeb/ -- The National Association of Mortgage Brokers (NAMB), the first and only national volunteer-led and membership-driven organization representing the interests of mortgage brokers and home buyers since 1973, today is showing strong support to the Appraisal Modernization Act introduced by Senator Raphael Warnock. If passed, the legislation would enhance transparency in the home appraisal process, codify a consumer's right to appeal appraisal valuations, and strengthen oversight and enforcement against bias.
NAMB believes this legislation is a critical step forward in eliminating appraisal bias, bolstering consumer protections, and streamlining processes for mortgage professionals. By establishing a uniform right to appeal, the proposed Act would ensure that all consumers regardless of financial background or neighborhood are treated fairly in the valuation process. NAMB believes this protection is especially timely following the Federal Housing Administration's (FHA) recent withdrawal of related guidance.
"NAMB will always support legislation that ensures fairness, protection, and privacy for homebuyers," said Jim Nabors, President of NAMB. "Our entire board of directors and membership applaud Senator Warnock for introducing the Appraisal Modernization Act, a critical piece of legislation. We must remain diligent in our efforts to protect consumers, and NAMB urges all members of Congress to give this important item their full consideration. As the nation's only volunteer-based and member-driven organization representing both homebuyers and mortgage brokers, NAMB remains committed to advocating for reforms that modernize the mortgage industry while upholding consumer rights."
About NAMB: The National Association of Mortgage Brokers has been the only national volunteer-led and membership-driven organization representing the interests of mortgage professionals and homebuyers since 1973. NAMB provides mortgage professionals with advocacy, education, and rigorous certification programs to recognize members with the highest levels of professional knowledge and education. NAMB's active lobbying and advocacy efforts focus on national and state issues, protecting the interests of its members and borrowers. As the leading national trade association for the mortgage industry, NAMB is affiliated with state associations throughout the country and represents the interests of more than 546,800 licensed and registered Mortgage Loan Originators and 49,100 licensed Mortgage Broker and Mortgage Lender businesses throughout the U.S. www.namb.org
Media Contact
Joshua Steinfeld, Steinfeld Consulting, 1 339-225-1581, [email protected]
SOURCE Steinfeld Consulting
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