The Appraisal Modernization Act aims to improve the appraisal process in the housing market, ensuring that financial institutions and appraisal professionals provide fair and consistent services to all mortgage loan applicants. A key goal is to explore the creation of a national public appraisal database to enhance transparency and efficiency in the appraisal process. The Act introduces new requirements for creditors, such as banks and lenders, mandating that they establish a process allowing consumers to request a review of appraisals they believe are flawed or biased.