The Appraisal Blog

According to Working RE Magazine, HUD has received 300 complaints alleging appraisal discrimination over the past 3 years.  No numbers were provided on how much of an increase this is over previous years, however the implication is that it is dramatic.  The increase is actually not surprising.  In early 2020 Joe Biden issued a Housing Plan to take aim at "racial bias" in the appraisal industry.  Since then states have followed suite by requiring Bias and Cultural Competency classes and AMC's have published lists of words not to be used in appraisals including such benign words as "affordable", "age", and "desirable"... and words that I have never seen in an appraisal like "queer", "slum", and "gay."  They are even banning words like "homogenous" and "gentrification" which are valid terms which would provide valuable information to a reader of an appraisal to understand the market.

Unfortunately, the complaints and lawsuits will continue for the foreseeable future.



https://www.workingre.com/fhfa-slows-bifurcated-appraisals/