Government announces new plan to eliminate appraisal bias

A White House task force has presented a plan that it says will root out racial and ethnic bias in home appraisals. The five-step action plan announced by the Property Appraisal and Valuation Equity task force last week is designed to increase accountability and oversight, and includes steps for both home buyers and homeowners to

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FHFA identifies “thousands” of potential appraisal bias cases

Following a lengthy investigation, the Federal Housing Finance Agency says it has identified thousands of cases of “potential bias” in neighborhood descriptions written by appraisers and used in their home valuation process. “From millions of appraisals submitted annually, a keyword search resulted in thousands of potential race-related flags,” wrote Chandra Broadnax, senior examination specialist, and

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Black couple file racial bias lawsuit against home appraiser

A black California couple has filed a lawsuit alleging housing discrimination, saying that an appraiser reduced the value of their home by almost $500,000 because of their skin color. The couple – Paul Austin and Tenisha Tate-Austin – said in their complaint that their Marin City home in San Francisco Bay was appraised at just

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