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US HB2413
Bill
Status
3/27/2025
Primary Sponsor
Sean Casten
Click for details
AI Summary
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Requires creditors to disclose to mortgage loan applicants their right to provide energy reports for appraisal consideration and to request such reports for their property
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Mandates that starting March 1, 2026, creditors must provide energy reports to appraisers when available and with borrower consent, and appraisers must consider energy efficiency characteristics, renewable energy features, and estimated energy savings when determining property value
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Applies to residential mortgage loans made, insured, purchased, guaranteed, or securitized by FHA, Fannie Mae, Freddie Mac, Ginnie Mae, USDA Rural Housing Service, and VA
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Requires covered agencies to establish an advisory committee of housing, energy, and consumer stakeholders and jointly issue guidance within 2 years for creditor origination and underwriting systems
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Defines qualified appraisers as those who complete at least 7 hours of continuing education on energy report consideration, including case studies and an examination approved by the Appraiser Qualification Board
Legislative Description
GREEN Appraisals Act of 2025 Getting Renewable and Energy Efficient Neighborhoods Appraisals Act of 2025
Finance and financial sector
Last Action
Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
3/27/2025