Veros says its AVM isn't tripped up by historical redlining boundaries
Study finds that homes located within historically redlined neighborhoods tend to have lower property values because they have less living space and smaller lot sizes
by Matt Carter Jun 16
Quality control standards for AVMs may cover discrimination
Proposed standards would include random sample testing and reviews to protect against data manipulation and ensure a 'high level of confidence' in the estimates produced by AVMs
by Matt Carter Jun 2
Appraiser ordered to watch exposé on Black homeowners she lowballed
Paul Austin and wife Tenisha Tate-Austin sued appraiser Janette Miller in 2021 after a lowball quote prompted the couple to pose a white friend as the homeowner for a second appraisal
by Ben Verde Mar 9
Those claims of appraisal bias? Another study backs them up
Homes in white neighborhoods are valued twice as high as those in communities of color, even in places with otherwise similar housing stock, according to a study out this week
by Daniel Houston Nov 3
Congress closer to prodding VA to update appraisal requirements
The Department of Veterans Affairs allows desktop appraisals when borrowers put 20% down, but nearly 90% of VA-backed loans are made to homebuyers who put zero down
by Matt Carter Sep 15
'Caste' author: Sordid history of unfair housing cannot be left as-is
Author Isabel Wilkerson urged NAR midyear attendees at the Realtors Legislative Meeting to roll up their sleeves and fix the consequences of past racist policies without guilt, shame or blame
HUD to 'punish' appraisers and lenders who discriminate
Shortly after the Biden administration announced its plan to end housing discrimination, HUD Secretary Marcia Fudge said the department is taking a more hardline approach to enforcement
by Marian McPherson Apr 22
Biden administration lays out bold plan to combat appraisal bias
Released Wednesday morning, the 5-point plan seeks to arm consumers with assistance, prevent algorithmic bias, cultivate a more diverse appraisal industry and leverage data for policymaking
by Ben Verde Mar 23
‘Modern-day redlining:’ Wells Fargo faces scrutiny over Black refi stats
The lender says credit scores, home appraisals and broader inequities in the U.S. economy explain the higher approval rates for white borrowers
by Matt Carter Mar 21
The biggest mortgage, lending and housing finance stories of 2021
The rise of Power Buying, regulatory battles, Fed tapering and big acquisitions rattled lending decisions and homebuyer game plans during a momentous year for the mortgage industry
by Matt Carter Dec 29
How equitably is housing wealth distributed in your city?
Interactive tool tracks disparities in homeownership rates, home values and distribution of housing wealth by race and ethnicity
by Matt Carter Nov 12
Landmark study confirms troubling 'appraisal gap' in minority enclaves
Mortgage giant Freddie Mac's analysis of 12 million appraisals comes as federal task force prepares action report to address appraisal bias
by Matt Carter Sep 21