Secret HUD Meeting on ‘Appraiser Bias’
This was in a news release put out on Aug. 2, 2021 by the American Society of Appraisers which reveals the ‘secrecy’ behind the government’s efforts to attempt to continually help smear real estate appraisers:
“RESTON, Va., Aug. 2, 2021 /PRNewswire/ –The Department of Housing and Urban Development (HUD) held a virtual event today looking at bias issues surrounding the home valuation process. Notably, this event was held without any participants from the appraisal profession at the table. This marks the second event of its kind that has excluded appraisers or their representatives from these important conversations. On June 15th, the Consumer Financial Protection Bureau (CFPB) held their own valuation bias event, absent any meaningful input from the appraisal profession.
This mirrors the ongoing process, led by HUD, by which the PAVE Interagency Task Force has been working. Rather than providing public notice of planned meetings and seeking stakeholder input, the Task Force meets privately and without offering meaningful opportunity for public input.
The exclusion of the appraisal profession from these events sends the message – intentional or not – that the input of appraisers is unwanted by those seeking to address issues relating to valuation bias.”
Appraisers need to remember that governmental agencies and the GSE’s were direct participants and enablers of the awful ‘redlining’ that was prevalent in the US from the 1930’s (or earlier) up until the 1980’s. Those practices had a direct causation of lower property values in many places in this country…..which are still in place today.