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
One month after the Biden administration announced its $86 million five-point plan to combat racial discrimination in the lending and appraisal industries, the Department of Housing and Urban Development has released its own equity action plan that out… Continue reading
The five-point plan seeks to make the appraisal industry more accountable, arm consumers with assistance, prevent algorithmic bias, cultivate a more diverse appraisal industry, and leverage federal data to benefit research and policymaking. Continue reading
A new interactive tool from the Urban Institute compares housing wealth equity in cities across America, tracking disparities in homeownership rates, home values, and the distribution of housing wealth by race and ethnicity. Continue reading
Mortgage giant Freddie Mac’s analysis of 12 million appraisals comes as federal task force prepares action report to address appraisal bias. Continue reading