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Can Appraisers Protect Minorities?

George Dell

Bias against minorities has been “proven” against property value message measurers – at least once. Let’s blame the appraisers! But […] The post Can Appraisers Protect Minorities? But […] The post Can Appraisers Protect Minorities? Something must be done!

Appraisal 195
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[PULSE] Black lives, Black families and Black homeownership matter

Housing Wire

Sadly, the pandemic, which is wreaking disproportionate financial havoc on minority communities, may expand the chasm. For a hard-working family, it can take years to save for a down payment. And any setback — such as the coronavirus crisis — can return them to square one.

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Black Americans still face massive housing barriers

Housing Wire

iEmergent has outlined a new paradigm for how lenders can increase homeownership—especially to under-served and minority households—that is driven by opportunity and forward-looking, market-based opportunity data. Empowering Lenders to Increase Homeownership with Opportunity Data.

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FHA or conventional? After LLPA tweaks, the calculus changes for some

Housing Wire

Some will move to more of an “either way” place, so that lender decisions around pricing can more make the difference for these. We also find that FHA mortgages serve minority clients in a higher percentage than conventional mortgages for lower credit scores. They’re trying to protect their portfolios and make good loans.

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With landmark GSE equity plans, FHFA confronts legacy of redlining

Housing Wire

Both plans rely heavily on special purpose credit programs , which allow lenders to target lending to protected classes without violating the Equal Credit Opportunity Act. . “A Both GSEs also plan to take action to reduce bias in appraisals, in part by doubling down on appraisal automation.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

According to mortgage trade groups, if the settlement can reduce buyer agent commissions, it can also make some underserved borrowers more vulnerable. And under existing FHA rules, sellers can contribute up to 6% in concessions to FHA borrowers to cover closing costs, prepaid expenses and discount points.

Buyers 504
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AVM’s & Punxsutawney Phil’s Accuracy

Cleveland Appraisal Blog

Considering the silly notion that the groundhog’s seeing his shadow can somehow predict future weather, 40% accuracy is not too shabby in my opinion. February is used to reestablish the bonds necessary for mating and ensures that mating can then proceed without delay in early March. However, they can also be very inaccurate.