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FHFA takes a swing at racial bias in appraisal

Housing Wire

The Federal Housing Finance Agency (FHFA) is the latest stakeholder to examine how racial bias may creep into property valuations. But when the FHFA hunted for examples of racial bias by keyword searching the free-form commentary section in millions of appraisal reports, it found thousands of references to race and ethnicity.

Appraisal 432
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PAVE Task Force Releases Recommendations to Promote Valuation Equity

McKissock

On March 23, 2022, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released a report entitled “Action Plan to Advance Property Appraisal and Valuation Equity.” Pages 5 and 6 of the report set forth 21 recommendations, termed “Agency Actions to Advance Valuation Equity.”

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From Forms to Reports: A Look at the UAD Overhaul

Appraisal Buzz

Using the form structure, GSEs have been ingesting these eclectic abbreviations to develop a large database of residential valuation. Really, appraisers have always thought this way. The appraiser will be led through a process, defined by the scope of work. If typewriters are no more, it is time for forms to be retired as well.

Appraisal 397
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Commercial Real Estate Appraisal Review: Essential Handbook to a Necessary and Influential 2nd Opinion

The Robert Weiler Company

An appraisal review is a second opinion or added insurance for the transaction to ensure the purchase price history, comps, adjustments, and disclaimers are accurate. Essentially, the commercial appraisal reviewer must confirm the report is acceptable, meets standards, and the appraiser had no interest in the property appraised.

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Q&A: Is It Time to Take On an Appraisal Trainee?

McKissock

One of the biggest mistakes that some appraisers make is giving in to the fear that by hiring a trainee, they’re grooming a future competitor. It’s more to your advantage to look at it as training a productive employee. Or you might just not like the process of training other people. Looking to upgrade your appraisal license?

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Decoding a Commercial Appraisal: Insider Insights

AmeriMac

These appraisals provide an unbiased estimation of a property’s value, taking into account various factors such as location, condition, size, and recent sales of similar properties in the area. This report serves as a reference for buyers, sellers, lenders, and investors to make informed decisions regarding the property.

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7 Reasons to Upgrade Your Appraisal License

McKissock

Here are some stats to consider: As of December 31, 2018, only 42% of the 78,000 state-credentialed appraisers in the United States were certified general appraisers. Get insights and trends to help you grow your appraisal career. Download your free copy of the latest Appraisal Income Guide. Income property appraisal.