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HUD settles with JPMorgan over appraisal bias case

Housing Wire

The Department of Housing and Urban Development (HUD) has announced that JPMorgan Chase has come to an agreement with a Black homeowner who claimed the bank’s mortgage division – relying on a valuation done by an appraiservalued her home at an amount lower than its actual worth because of her race.

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2022 Appraisal Outlook: Appraisers Cast Optimistic Eye On Coming Year

McKissock

Nonetheless, it would be prudent for appraisers to refresh or develop their knowledge on appraising REO properties.”. One possibility being discussed is a standardized reconsideration of value process that a property owner can utilize if they believe their house was undervalued by an appraiser.