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HUD, GSEs to Allow Consumers to Seek Reconsideration of Appraisal Valuations

Appraisal Buzz

Department of Housing and Urban Development (HUD), through the Federal Housing Administration (FHA), and government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac are now allowing home appraisals to get a second look when bias is suspected in the appraisal process.

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The appraisal industry’s governance problem

Housing Wire

Apart from questions of governance, the report found significant gaps in the Appraisal Foundation’s fair housing requirements and training. The report comes just as a task force to root out bias in appraisals, led by the Department of Housing and Urban Development , finalizes its policy recommendations.

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White House marks one year of PAVE appraisal bias action plan

Housing Wire

Department of Housing and Urban Development (HUD) Secretary Marcia Fudge and White House Domestic Policy Advisor Ambassador Susan Rice, the PAVE task force revealed its action plan one year ago and claims that its efforts have amounted to “critical progress” in its efforts to make the homebuying process more equitable for people of color. “In

Appraisal 372
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Why Appraisal Workfiles Are Important

Appraisal Today

This is one of the appraisal discrimination cases that has received significant attention – among appraisers, the media and government agencies. The defendant appraiser valued their home at $472,000; a second appraiser later valued it at $750,000 after the couple “whitewashed” the residence and had a white friend stand-in for them.

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Opinion: The path to modernizing the appraisal process

Housing Wire

Our industry must support and adopt solutions like the Practical Applications of Real Estate Appraisal (PAREA) and allow students to engage in simulated/virtual training programs in every state. Reconsideration of Value (ROV) process. Additionally, as directed by the Biden administration, the U.S.