Originally published in the March 17, 2026, issue of AI’s Appraisal Now
Reprinted with permission from AI

Last Thursday, the U.S. Senate passed a sweeping bipartisan housing package to improve affordability and expand the housing supply nationwide. The 21st Century ROAD to Housing Act passed 89 to10 and includes provisions to boost housing availability, modernize federal programs, and ease market pressures on homebuyers.

For appraisers, the bill includes several measures the Appraisal Institute has long supported.

The bill incorporates the Appraisal Modernization Act, which sets new requirements for reconsideration of value (ROV) processes. The measure aligns with Appraisal Institute recommendations and gives consumers a clear way to request a second look at an appraisal when appropriate. Under the act, FHA, FHFA, the Department of Agriculture, and the Department of Veterans Affairs must implement and maintain their own ROV guidelines. An earlier Senate draft would have codified the GSEs’ ROV guidelines to standardize policy across federal agencies.

The legislation also includes the Appraisal Industry Improvement Act, which updates several parts of federal appraisal policy. The bill restores eligibility for state-licensed appraisers who meet competency requirements to complete appraisals for FHA-insured mortgages. It also allows appraisal organizations such as the Appraisal Institute to compete for Appraisal Subcommittee grants to support education, workforce development, and other initiatives that strengthen the profession.

The Senate vote marks a major step, but the bill now faces resistance in the House, where conservatives have criticized many of the new programs in the package. House Republicans must either accept the Senate’s changes or take the bill to conference to negotiate a compromise.

The Appraisal Institute will continue to monitor the bill as Congress considers next steps.