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Financial Services Law Insights and Observations

HUD and NAREB to educate consumers on appraisal bias

Federal Issues Agency Rule-Making & Guidance HUD Appraisal Mortgages Consumer Finance

Federal Issues

On August 2, HUD announced a partnership with the National Association of Real Estate Brokers to address appraisal bias and discrimination in the housing market. The collaboration, launching in October 2023, will include online training, roundtable discussions, and distribution of educational material designed to promote fairness in the housing market. HUD also referenced its involvement in the PAVE task force (covered by InfoBytes here), which is dedicated to ending bias in home valuation and has made critical progress since its launch in 2022.