HR 8402
GREEN Appraisals Act of 2024
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Bill overview
The GREEN Appraisals Act of 2024 aims to improve the accuracy of home appraisals by requiring lenders to disclose information about energy reports to borrowers and qualified appraisers. It mandates that appraisers consider energy efficiency characteristics and renewable energy features when determining property values, and establishes a process for creditors to incorporate energy report data into their underwriting decisions. The bill also creates an advisory committee to guide implementation and ensure consistent practices across the industry.
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