COVID-19 Safe Home Appraisal Act of 2020
This bill allows interior inspection appraisal requirements with respect to certain loans to be waived through the end of the COVID-19 (i.e., coronavirus disease 2019) emergency period if specified requirements are met. An interior inspection may be waived if (1) an exterior inspection is performed in conjunction with certain contemporaneous verifications, such as video or photographs by the borrower; (2) an interior inspection may be ordered at a later date; and (3) an appraiser rejected the assignment due to health and safety concerns.
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