VA Appraisal Modernization Act

The VA Appraisal Modernization Act establishes a new system for setting and adjusting appraisal fees for Department of Veterans Affairs home loans. It creates two special categories of counties - high-demand and remote - to address appraiser shortages and long wait times. High-demand counties, where appraisal delays exceed standards or appraiser availability is low, will see fees increase annually starting in 2027, with higher rates for counties facing persistent shortages. Remote counties, defined by low appraiser density or long travel distances, will receive mileage reimbursements for appraisers. The bill also requires the VA to publish fee schedules, notify appraisers of changes, and submit reports on the program's financial impact and effectiveness.