As appraisers urge the nation’s lawmakers to reduce the amount of regulations appraisers are subject to, service providers are helping lenders maintain their own compliance.

In testimony last month before a subcommittee of the House Financial Services Committee, the Appraisal Institute called on Congress to modernize appraisal regulation.

The trade group said the appraisal regulatory structure should be aligned with the real estate and mortgage industries and use a model like the National Mortgage Licensing System.

Source: Mortgage Daily