,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #bheb  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #bj1 #bjai,mr4   
,%]man introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to am5d !         
,national ,h\s+ ,act to au?orize        
,/ate-lic5s$ apprais]s to conduct       
appraisals 9 connection ) mortgages     
insur$ by ! ,,fha & to require          
compliance ) ! exi/+ apprais] education 
requirem5t1 & = o!r purposes4  #a4 ,%ort
 title ,?is ,act may be cit$ z !        
,homebuy] ,assi/ance ,act ( #bjai4  #b4 
,apprais] /&>ds  7a7 ,c]tification or   
lic5s+ ,p>agraph 7#e7 ( section         
#bjb7;g77#e7 ( ! ,national ,h\s+ ,act   
7#ab ,u4,s4,c4 #agjh7;g77#e77 is am5d$--
  7#a7 by /rik+ subp>agraph 7,a7 &      
ins]t+ ! foll[+ new subp>agraph3  7,a7  
be c]tifi$ or lic5s$ by ! ,/ate 9 :i* ! 
prop]ty to be apprais$ is locat$2 &  2 &
  7#b7 9 subp>agraph 7,b71 by ins]t+    
be=e ! p]iod at ! end ! foll[+3 1 :i*   
%all include completion ( a c\rse or    

sem9> t consi/s ( n less ?an #g h\rs (  
tra9+ reg>d+ su* appraisal requirem5ts &
 is approv$ by ! ,c\rse ,approval       
,program ( ! ,apprais] ,qualification   
,bo>d ( ! ,appraisal ,f\ndation or a    
,/ate apprais] c]tify+ & lic5s+ ag5cy4  
7b7 ,compliance ) v]ifiable education   
requirem5ts ,effective beg9n+ on ! date 
( ! effectiv5ess ( ! mortgagee lett] or 
o!r guidance issu$ pursuant to          
subsection 7c7 ( ?is section1 not)/&+   
any *oice or approval ( any apprais]    
made be=e su* date ( enactm5t1 no       
apprais] may conduct an appraisal = any 
mortgage insur$ "u title ,,ii ( !       
,national ,h\s+ ,act 7#ab ,u4,s4,c4     
#agjg et seq47 unless su* apprais] is 9 
compliance ) all ( ! requirem5ts "u     
section #bjb7;g77#e7 ( su* ,act 7#ab    
,u4,s4,c4 #agjh7;g77#e771 z am5d$ by    
subsection 7a7 ( ?is section1 includ+ ! 
requirem5t "u subp>agraph 7,b7 ( su*    
section #bjb7;g77#e7 7relat+ to         
demon/rat$ v]ifiable education 9        
appraisal requirem5ts74  7c7            

,implem5tation ,n lat] ?an ! expiration 
( ! #ahj-;day p]iod beg9n+ on ! date ( !
 enactm5t ( ?is ,act1 ! ,secret>y (     
,h\s+ & ,urban ,developm5t %all issue a 
mortgagee lett] or o!r guidance t %all--
  7#a7 implem5t ! am5dm5ts made by      
subsection 7a7 ( ?is section2  7#b7     
cle>ly set =? all ( ! specific          
requirem5ts "u section #bjb7;g77#e7 ( ! 
,national ,h\s+ ,act 7z am5d$ by        
subsection 7a7 ( ?is section7 = approval
 to conduct appraisals "u title ,,ii (  
su* ,act1 :i* %all include--  7,a7      
provid+ t ! completion1 prior to !      
effective date ( su* mortgagee lett] or 
guidance1 ( tra9+ meet+ ! requirem5ts "u
 subp>agraph 7,b7 ( su* section         
#bjb7;g77#e7 7z am5d$ by subsection 7a7 
( ?is section7 %all be consid]$ to      
fulfill ! requirem5t "u su* subp>agraph2
 &  7,b7 provid+ a me?od = apprais]s to 
demon/rate su* prior completion2 &  7#c7
 take effect n lat] ?an ! expiration ( !
 #ahj-;day p]iod beg9n+ ^u issuance (   
su* mortgagee lett] or guidance4