RICS comments on US Government’s Promoting Access to Mortgage Credit Executive Order

The Royal Institution of Chartered Surveyors (RICS) welcomes the U.S. Government’s efforts to expand responsible access to mortgage credit and address housing affordability challenges across the United States.

The measures intended to increase lender participation, reduce barriers in the mortgage process, and support credit availability for first-time and underserved borrowers are steps that could help more households achieve sustainable homeownership.

RICS shares its commitment to modernizing valuation practices. The International Valuation Standards (IVS), maintained by the IVSC and applied by RICS professionals in over 140 countries, provide a principles-based framework that already integrates technology-assisted valuation, automated models, and hybrid approaches within a structure of professional accountability. RICS believes this global experience can inform U.S. efforts to modernize appraisal regulation while maintaining the market confidence that protects borrowers, lenders, and taxpayers.

Notably, the Appraisal Foundation’s Appraiser Qualifications Board has proposed recognizing international IVS experience for U.S. state licensing - a concrete step toward the qualification flexibility the Executive Order envisions, grounded in demonstrated professional competence.

Reliable independent property appraisals serve as a cornerstone of responsible lending and appraisal independence plays a vital role in upholding professional standards, promoting transparency, and sustaining confidence and stability across housing markets and the wider financial system.

RICS stands ready to work with policymakers, regulators, lenders, and industry stakeholders to support implementation that expands access, accelerates modernization, and preserves long-term housing market stability.