News & Analysis as of October 13, 2024

Discrimination › Appraisal

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Discrimination is prejudicial treatment related to (or inappropriate consideration of) an individual's actual or perceived membership in a particular class, group or category, such as an individual's... more +

HUD Enters Conciliation Agreement with the Appraisal Foundation to Curb Discrimination in the Industry

Ballard Spahr LLP on 7/17/2024

The U.S. Department of Housing and Urban Development (HUD) announced that it has entered into an historic Conciliation Agreement (Agreement) with The Appraisal Foundation (TAF), an organization responsible for setting...more

Rooting Out Discrimination In Real Estate Valuation and Appraisal

Cadwalader, Wickersham & Taft LLP on 2/23/2024

The Federal Financial Institutions Examination Council (“FFIEC”) published a statement on February 12, 2024 regarding “principles for the examination of supervised [institutions’] residential property appraisal and...more

Federal Agencies Propose Reconsideration of Value Guidance

Ballard Spahr LLP on 6/9/2023

A group of federal agencies have proposed reconsideration of value (ROV) guidance for residential real estate valuations. The agencies are the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB),...more

Federal Regulators Urge The Appraisal Foundation to Revise Uniform Standards to Explicitly Prohibit Discrimination

Troutman Pepper on 2/16/2023

On February 14, Patrice Ficklin, the Fair Lending Director for the Consumer Financial Protection Bureau (CFPB), together with senior officials from the Federal Reserve Board, Office of the Comptroller of the Currency, Federal...more

Moving to Address Appraisal Bias, Agencies and the Appraisal Foundation Issue Updates

Alston & Bird on 2/9/2023

A&B ABstract: A year and a half after President Biden’s announcement of the Interagency Task Force on Property Appraisal and Valuation Equity (“PAVE”), the past weeks have seen a flurry of activity from federal agencies and...more

HUD discusses steps to address appraisal bias

Orrick, Herrington & Sutcliffe LLP on 1/18/2023

On January 12, HUD Secretary Marcia L. Fudge announced at a Brookings Institute event that HUD is creating a process that people seeking FHA financing can use to request a review of their appraisal if they believe the results...more

Federal Agencies Focused on Discriminatory Home Valuation Practices

Moore & Van Allen PLLC on 3/30/2022

Late last year, news services reported on the results of the efforts of a black couple living in Northern California to challenge what they believed was an initial, discriminatory low-ball appraisal of their home. To test...more

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