Appraisal Bias

[djd09]

Biden State Department Wants $76 Million for Diversity, Equity and Inclusion, Calling it a Matter of National Security​

https://twitter.com/x/status/1668630292448559108

bias is just another democrat money laundering scheme

 

[Terrel L. Shields]

I wonder how long before AI replaces everyone and no one has any job or any way of making a living. Then it seems, the need for AI will be diminished. If half the people in the US is unemployed, then appraisal volume, home sales, home construction, etc. will fall like we've never seen, not even in the 30s depression. Then it might turn into a real blood bath as we either eat each other or destroy the great moguls of AI...

 

[alebrewer]

I wonder how long before AI replaces everyone and no one has any job or any way of making a living. Then it seems, the need for AI will be diminished. If half the people in the US is unemployed, then appraisal volume, home sales, home construction, etc. will fall like we've never seen, not even in the 30s depression. Then it might turn into a real blood bath as we either eat each other or destroy the great moguls of AI...

Ya know - I thought briefly about getting my CDL - but that's probably short sighted as well. Won't be long before driverless trucks will dominate the freeways.

But..... BY GOD!!!....before that happens, we need to put measures in place to ensure that truck drivers are guaranteed a salary of at least $100k a year. After all - it's only fair.

 

[Terrel L. Shields]

Can you stick up a bank that's all non-human?

 

[Tom D]

Can you stick up a bank that's all non-human?

yes, it's called a atm machine. when we were having the summer of love some of our outside atm's were being stolen. they pulled them out with a truck, or an explosen.

 

[Sadie]

where did you get that info from?

other sournces say much higher. The article was from 2021 and since then the waiver program has expanded.

Fannie says waivers are 2%-4%. Hmm, selling a point? It would be nice to have better data.

 

[glenn walker]

Fannie says waivers are 2%-4%. Hmm, selling a point? It would be nice to have better data.

That number is totally wrong LMAO

 

[Elliott]

Jeremy Bagott email 6/16/23:

"In a report from 2021, mortgage giant Freddie Mac scoured 12 million appraisals between 2015 and 2020 and published a study that found what appeared to be an indictment of the nation’s 80,000 state-licensed appraisers: the sales of homes in black- and Latino-majority census tracts were found more likely to appraise below the negotiated sale price than sales of homes in white-majority tracts. But the Freddie Mac report dishonestly failed to control for concessions and closing costs, which have a greater tendency to be shoehorned into negotiated contract prices in tracts that contain more first-time and cash-poor buyers. Freddie Mac’s own underwriting rules require appraisers to deduct for this, but Freddie did not in its own study.

In another 2021 report, the U.S. Federal Reserve looked for signs of racial discrimination in mortgage approvals using new data. It found no signs of discrimination. To the contrary, it found black borrowers tended to hold more debt proportionate to their income than Hispanic borrowers, that Hispanic borrowers held proportionately more debt than white borrowers and that all three groups tended to be more leveraged proportionate to income than Asian borrowers. If anything, this finding suggests African-Americans are again being ensnared by lenders in debt traps, not that they’re being denied credit."


Since being accused of 'racism' or being 'racist' is a powerful accusation, perhaps a class action suit is in order for appraisers, to paraphrase JB. I hate to tell the GSE statisticians that census tracts are not neighborhoods, so their stats are 'biased' or 'flawed.'

 

[Fernando]

Ya know - I thought briefly about getting my CDL - but that's probably short sighted as well. Won't be long before driverless trucks will dominate the freeways.

But..... BY GOD!!!....before that happens, we need to put measures in place to ensure that truck drivers are guaranteed a salary of at least $100k a year. After all - it's only fair.

Labor especially with union wages cost too much in US. It's inevitable, companies looking for ways to cut down on costs thus certain jobs can be done by machines.
A truck driver just drive which driverless vehicles can take over. It's sooner than we can imagine.

 

[Dublin ohio]

No , the article said recent look at the date on it.

The article states that the stats are from 2021