Tag Archives: appraisal bias

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 →

Appraiser ordered to watch exposé on Black homeowners she lowballed

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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 →

Those claims of appraisal bias? Another study backs them up

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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 →

Congress closer to prodding VA to update appraisal requirements

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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 →

‘Caste’ author: Sordid history of unfair housing cannot be left as-is

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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 →

HUD to ‘punish’ appraisers and lenders who discriminate

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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 →

Biden administration lays out bold plan to combat appraisal bias

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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 →

How equitably is housing wealth distributed in your city?

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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 →