Tag Archives: appraisal bias

Rocket Mortgage, Solidifi among defendants in appraisal bias suit

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Prosecutors allege appraisal that erased $220,000 from Denver duplex’s value discriminated against Black owner and thwarted her attempt to refinance at lower rates. Continue reading →

HUD: Appraisal that erased $220K in home value was discriminatory

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Appraisal management company Solidifi and lending giant Rocket Mortgage are also charged with violating the Fair Housing Act. Rocket says it expects to prevail. Continue reading →

4 ways homesellers can maximize their home’s appraisal value

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Fair housing expert Dr. Lee Davenport says that your low appraisal may have nothing to do with the lack of landscaping. Continue reading →

‘Historic’ agreement aims to break racial barriers in appraisal industry

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The Appraisal Foundation will establish $1.22 million scholarship fund to help aspiring appraisers navigate “an alternative, more inclusive path” for fulfilling experience requirements that are said to have contributed to a lack of diversity. Continue reading →

Dr. Shani Mott spent her last days fighting for housing equality

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The Baltimore homeowner succumbed to cancer before she could celebrate a landmark appraisal bias win. She’s part of a long legacy of Black homeowners who’ve died while fighting for their rights. Continue reading →

LoanDepot settles high-profile appraisal bias lawsuit filed in 2022

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Lender revises appraisal policies and practices in wake of lawsuit by Baltimore couple who claimed their home was undervalued by more than $250,000 because they were Black. Continue reading →

What to do if a client says, ‘I’m not selling my home for THAT price’

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If your client is frustrated by a lowball appraisal, even when they’ve done everything right to get ready for the market, there may be bias at work, Dr. Lee Davenport writes. Continue reading →

Project to tackle appraisal bias continues with Nov. 1 hearing

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The public is invited to join leaders from the American Bankers Association and mortgage giants Fannie Mae and Freddie Mac for a hearing on tackling appraisal bias. Continue reading →

Veros says its AVM isn’t tripped up by historical redlining boundaries

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Study finds that homes located within historically redlined neighborhoods tend to have less living space, smaller lot sizes and more variations in quality. Continue reading →

Quality control standards for AVMs may cover discrimination

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Proposed standards would include random sample testing and reviews to ensure a “high level of confidence” in the estimates produced by AVMs. Continue reading →