On Thursday, the Senate passed the Dodd-Frank bill by a 60 to 39 vote, sending this appraiser-friendly measure to the President for his signature, which will occur on Wednesday.
This bill appears to have provisions which promise to improve the working conditions and financial prospects for many appraisers. The significance of this bill makes it worth repeating much of the information from our last newsletter since many readers may have missed it while on vacation or ignored it figuring that some last minute change would make it less appraiser-friendly (we do have skeptics amongst us after these last several years).
Good news is worth repeating, so here it is. Besides, who wants to read all the troubling new predictions for the residential and commercial real estate markets anyway on a nice summer day? Well, we won’t totally ignore the flurry of bad reports but we’ll place them at the end of the newsletter!
Here is a link to the Dodd-Frank bill, all 2,319 pages worth.
Dodd-Frank Wall Street Reform and Consumer Protection Act