1. require that an appraisal be made available to the consumer prior to closing,
   
2. mandate property visits for mortgages covered by the Homeowners Equity Protection Act (HOEPA),
   
3. require the appraisal subcommittee to hold open meetings and publish detailed reports,
   
4. amend the Truth in Lending Act to prohibit mortgage originators from improperly influencing the appraisal process -- which is defined as collusion, intimidation, coercion, bribery etc.
   
5. amend FIRREA to prohibit those with an interest in the real estate transaction from improperly influencing the appraisal process, with the following exceptions: a) to correct errors, b) to request the appraiser consider additional information, and c) to provide substantiation,
   
6. set Appraisal Qualification Board guidelines as the minimum criteria for state licensing, increases regulatory authority of the Appraisal Subcommittee in sanctioning, reciprocity, and information sharing,
   
7. require that only licensed appraisers review appraisals submitted to appraisal management companies and to clarify that these firms and their employees are also subject to the improper influence language of the bill.

The Senate Banking Committee is working on a companion bill. Timing for introduction and consideration is uncertain.