Allegations of Appraiser racism

[Mejappz]

isnt servicelinks a blackstone company?

I’m sorry she works for Blackknight.

Mortgage Solutions Software, Support & Education

ICE is modernizing the housing finance process to help the dream of home ownership become a reality ICE is digitizing and automating the entire real estate and housing finance lifecycle so critical data can flow seamlessly from one process to the next creating a better experience for the...

www.blackknightinc.com

 

[OSU Beavers]

I’m sorry she works for Blackknight.

Mortgage Solutions Software, Support & Education

ICE is modernizing the housing finance process to help the dream of home ownership become a reality ICE is digitizing and automating the entire real estate and housing finance lifecycle so critical data can flow seamlessly from one process to the next creating a better experience for the...

www.blackknightinc.com

That's racist!

 

[The Bob]

Or.... they could just post copies of both appraisals here.
Talk about a cage fight LOL.

 

[Mejappz]

I wonder if Black Knight is the breeding ground for Fannie and Freddie's newly minted " hybrid inspectors"

 

[George Hatch]

That is not a good list of properties that are comparable to the subject.

22 Pacheco is land sale. 20 Pacheco, the subject of the article is better than 635 Drake which traded for $969k.

I was not looking for comparable properties. I was looking at the sales history for all properties in that immediate neighborhood, regardless of use. Those sales provide the context for analyzing properties that might be considered directly comparable.

No filter other than going back to 2015. That's all of them by Assessor Parcel No.

 

[George Hatch]

I normally do a 5yr summary of all sales for a given geographic neighborhood that goes in my neighborhood section. Highest priced homes ever sold through the MLS in that area regardless of their attributes followed by a 5-yr summary of the low-median-high for the sizes and the low-median-high for the sale prices. Also without regard to comparability to the subject.

Then when I relate the subject's attributes to those datasets my reader can get an idea of how the subject fits into that neighborhood. If it's larger and in better condition than the median then that's one thing, but if its similar to or below the medians in size and/or quality then that says something else that's in addition to whatever else I'm saying about the direct comparables.

If I'm taking comparables from a different geographic neighborhood I can run the same kind of comparo to demonstrate how these neighborhoods have historically compared to each other in terms of pricing and in support of any location adjustments that might arise.

 

[NachoPerito]

I am glad HUD is looking into these cases. There are way too many questions still. I was going to suggest the Institute take a look. There is way too much at stake and it is not expensive to perform some reviews of these appraisals.

My problem with all this is: The cost/benefit analysis of racist appraising should not make this a thing.

If you are racist and you decide to devalue a house by 50% it is 1) more work to manufacture a bad value 2) risking stips when you come in low 3) risking angry homeowners who will push to have the value changed and 4) open you up to sanctioning by the state.

The benefit: you make it harder for a black family to get a bank loan.

I don't get it. Implicit bias is one thing, but they are accusing appraisers of being racist.

 

[glenn walker]

Racist, sexist, homophobic, islamaphobic, misogynistic , xenophobia, white privlidge. Can Dr Foochy please help develop a vaccine and include a social equity booster shot as a bonus : ) LMAO

 

[Tom D]

I don't get it. Implicit bias is one thing, but they are accusing appraisers of being racist.

you are making the wrong assumption about that current false thinking. they don't have to accuse a white appraiser of being a racist. we were born racist, it is already assumed. we have to work at getting the 'whiteness' out of our genetics. how do mentally deranged people get their beliefs into our society, oh wait. those that believe them are also insane.
in superman's world, it was called bizarro world.

 

[Mejappz]

I was going to suggest the Institute take a look.