Wendy Sherman: “I thank the gentleman from Guam for yielding. I would like to thank our colleague from Wisconsin (Mr. Duffy) for working…”

“I thank the gentleman from Guam for yielding. I would like to thank our colleague from Wisconsin (Mr. Duffy) for working with me on this bill, the Homebuyer Assistance Act of 2019. He has worked hard to ensure that this is a collaborative and bipartisan process. I would also like to thank the chair of our committee, the gentlewoman from California, and her staff for their assistance with this bill and her support in bringing the bill forward. There is no more important day in the economic life of a family than the day that they buy a home, and some 83 or 84 percent of those with FHA financing are purchasing their first home. Appraisers play an important role in the process. This bill would change the rules a bit for FHA appraisers so as to bring them in line with the rules we already have for Fannie Mae and Freddie Mac, which are the larger, federally controlled entities engaged in guaranteeing or financing homes, and it will deal with the shortage of certified appraisers that we are experiencing in parts of the country. Let me point out that this bill deals only with single-family homes. You could make the argument, Mr. Speaker, that you should have a certified appraiser in dealing with complex commercial, industrial, and multifamily properties. This bill focuses on single-family homes. The bill has broad support of both consumer advocacy organizations and industry stakeholders.…”