Comments on: Racial Bias in Appraisals Survey

By: Baggins

Baggins — Tue, 28 Sep 2021 03:25:02 +0000

In reply to IMJSAYN.

An alternative position is that the system of independent checks and balances is actually working as it’s supposed to, and these data disparities are representative of the larger marketplace systems and actions of market participants, not of any specific wrong doing on part of the appraisers. Just because that data may be present proves nothing. Appraisers read the market, they do not set the market. Of course there will be different market trends between diverse populace groups. Our tax dollars, hard at work.

By: IMJSAYN

IMJSAYN — Tue, 28 Sep 2021 02:01:30 +0000

In reply to Coach.

Did Freddie determine how and if the appraiser ever knew the race of the borrower? The only people who know that, are the lenders agent or brokers. Seems illogical to blame appraisers of racism when we don’t know or meet the borrowers and have no idea of their race.

By: Coach

Coach — Tue, 28 Sep 2021 00:13:38 +0000

If their mission is to find a problem, it will be found, whether it exists or not.

http://www.freddiemac.com/research/insight/20210920_home_appraisals.page

“To follow up on several stories of potential purchase appraisal bias in various news outlets, Freddie Mac kicked off a study of whether minorities are more likely to receive an appraisal value that is lower than the contract price during purchase transactions.”

By: Advocate

Advocate — Mon, 27 Sep 2021 23:27:28 +0000

Fannie Mae should educate the public on the appraisal process and not give in to the false narrative of appraisal bias. Too many reviews of the appraisal for there to be any bias and not discovered. Maybe Fannie Mae should step forward and challenge the news media on their reporting of unsubstantiated claims of bias. How about a media campaign of their own explaining the appraisal process and definitions in the professions.

By: Baggins

Baggins — Mon, 27 Sep 2021 21:53:49 +0000

What exactly is wrong with lower prices? Wrote an essay in the tiny comment box, those apparently do not have a character limit. Imagine a functioning free market, where people had to actually do their jobs and be productive. This survey brought to you by the federal government and it only cost like thousands of man hours and millions of tax dollars.

By: Xpert

Xpert — Mon, 27 Sep 2021 16:46:21 +0000

The survey is faulty. Why ask the two last questions when I answered “I do not think there is any racial bias in appraisals” and I have NEVER witnessed actual or perceived racial bias in appraisals?

By: Bill Johnson

Bill Johnson — Mon, 27 Sep 2021 15:30:41 +0000

Considering the last taste in your mouth is “What can Fannie Mae do to decrease racial bias in appraisals”, appraisers are guilty until proven innocent. Hey Fannie Mae, how about telling us how many appraisals go through your portal everyday, compared to “have your day in court” racial convictions there are. Something tells me the results would go against your narrative.

Seek the truth