H. R. 8402, also known as the "GREEN Appraisals Act of 2024," requires that borrowers be informed about energy efficiency appraisals when applying for a residential mortgage loan. The bill mandates that lenders must include information about energy reports, which assess the...
Simple Explanation
This bill is about checking how much energy a home uses when someone wants to get a home loan. It says banks have to tell appraisers about a home's energy usage and let them use this information to help decide how much the house is worth.