AI Urges Swift Passage of Appraisal Portal Legislation

The Appraisal Institute sent a letter urging swift passage of the Portal for Appraisal Licensing Act of 2020 in the 116th Congress, which would amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a portal for appraisal credentialing and AMC registration information, and for other purposes.

“Appraisers need help reducing their administrative burdens and servicing clients, particularly in a socially distant workplace where clients may be located in other states,” said Appraisal Institute President Jefferson L. Sherman, MAI, AI-GRS.

The Appraisal Institute told Reps. David Kustoff (R-Tenn.) and Ed Perlmutter (D-Colo.) that “The organization applauds your effort to modernize the real estate appraisal licensing system by reducing administrative costs and eliminating red tape by authorizing the establishment of a Portal for Appraisal Licensure.” 

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