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
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
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
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
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
Proposed standards would include random sample testing and reviews to ensure a “high level of confidence” in the estimates produced by AVMs. Continue reading
Paul Austin and wife Tenisha Tate-Austin sued appraiser Janette Miller in 2021 after a lowball quote prompted the couple to pose a white friend as the homeowner for a second appraisal. Continue reading
Homes in white neighborhoods are valued twice as high as those in communities of color, even in places with otherwise similar housing stock, according to a study out this week. Continue reading
The Department of Veterans Affairs allows desktop appraisals when borrowers put 20 percent down, but nearly 90 percent of VA-backed loans are made to homebuyers who put nothing down. Continue reading
Isabel Wilkerson urged attendees at the Realtors Legislative Meetings at NAR midyear to roll up sleeves and fix the consequences of past racist policies without guilt, shame, blame or emotion. Continue reading