A report on a public appraisal database is due in 240 days
What the document says“the Comptroller General of the United States shall submit to Congress a public report assessing the feasibility of creating a publicly available appraisal database that consists of a searchable and downloadable appraisal-level public use file that consolidates”
The section requires the Comptroller General of the United States to report publicly to Congress within 240 days of enactment on whether a public appraisal database is feasible, drawing together appraisal data held by the Federal Housing Finance Agency, the Department of Housing and Urban Development, the Department of Agriculture, and the Department of Veterans Affairs. The report must weigh costs and benefits, which agency should run it, safety and soundness, antitrust and privacy risks and how to reduce them, matching with data under the Home Mortgage Disclosure Act of 1975, unfair business advantage, including automated valuation model data, giving the full dataset to federal and State bodies and approved researchers, what is already public, and incorporating data back to January 1, 2017.
What the document actually says“the Comptroller General of the United States shall submit to Congress a public report assessing the feasibility of creating a publicly available appraisal database that consists of a searchable and downloadable appraisal-level public use file that consolidates”
A report goes to Congress and to the public. It asks whether a public database of home valuations could work. It would pull together data from four federal bodies. People could search it and download it.
The report is due within 240 days. It weighs the cost, the risks, and who should run it. The Comptroller General runs the audit arm of Congress.
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