Black Homeowners Face Discrimination in Appraisals

[reviewer]

(Snip)

I remember the camera panning to observers at that hearing. We remarked here that those had to be appraisers because they could hardly stay in their seats. If I recall right you guys raised your hands when asked if there were appraisers there. And so did Joan who had no license to make that claim that day.

Yeah, at one point, I was close to leaping a couple of rows and wresting away a microphone. And Joan’s claim to be an appraiser had my eyeballs rolling so hard that I later had to ask security to help me locate where they’d rolled down the hall.

 

[Joe Flacco]

Problem identification comes first. We need to quantify the actual extent of racially biased appraisals. We cannot respond to such allegations without evidence, whether that response entails remediation of substandard performance or the denial that it's occurring with any regularity.

I want to know if the ASB can assemble a list of licensees who have had such complaints levied against them and what the resolution of those complaints looks like. HUD and the GSE's, too.

IMO, an appraiser who dorks appraisals because of a personal bias is committing an ethical violation that is so egregious that if a pattern of such abuses can be demonstrated then they should - at the least - have their license stripped from them on the expedited basis.

I've said this many times over the years: as appraisers what we really sell is not signed appraisal reports with a number on the bottom line. Our primary stock in trade - the only aspect of what we do that makes our work marketable - are our assertions of professional impartiality and objectivity. We assert that we do not advocate for or against anyone's interests. If our users don't trust in our impartiality then we become just another value opinion to them that may or may not be reasonable.

For appraisal this is a issue greater than racial bias. It is not if investigation reveals racial bias is not a widespread issue than all is good. It is a general credibility issue. Its a USPAP compliance and enforcement failure issue.

 

[Carnivore]

Whats so bad about this specific Incident is that both these Appraisers are really in a Jam. They are going to go thru HE Dbl Hockey Sticks with an investigation. Neither one will win in this situation. Oh, yes one will in the eyes of the Homeowner, especially if the State agrees with the Higher Appraisal. Think about that one for a moment. Think about the Homeowner who now just proved her point. AS if one incident proves anything.

If the lower one is Correct, and the State Proves it.... Well you know the Homeowner who has the Spotlight and Megaphone will not accept the Results of the investigation. The Home owner will just feed the frenzy. Calling out the State as a co-conspirator of the systemic racism in the Appraiser Community .

So the best outcome is if the Higher Appraisal is Good to Go, at least one person won't be taken to the Gallows.

This is not going away, the Cats out of the Bag. Maybe I will get to meet some of you in our Mandatory Annual Diversity Group Therapy Class.

 

[George Hatch]

Cities are currently experiencing open warfare on the streets over allegations of (among others) systemic racism. That's how seriously we should all be taking these allegations in this moment. We should not be waiting to overtaken by events as this issue develops.

If the appraisal profession gets tagged as racist and untrustworthy then we will lose assignments and it will cost us. Going on offense here becomes, if nothing else, self-serving.

At the least, appraisers can act on the individual level to not only show-n-tell their support for their opinions but to also show-n-tell why they think the higher values that others may believe in are clearly unreasonable. Not just in relation to some borrowers, either; but in all their work. Same pattern of development and reporting for all assignments, not just some assignments. This doesn't just work to the benefit of the appraiser in the event they get accused, but also to their users who will have more to show in support of their decisions should those get challenged.

 

[Meandering]

Nobody gives a crap about this one appraisal, or the appraisers involved, if it even happened.

The article about this appraisal is from August, this year.

In early March, Biden called appraisers racists.

Biden's Claim of Racial Bias in Appraisals Faces Criticism from Appraisers

Over the past week or so, Presidential Candidate Joe Biden publicly called for more regulation and oversight over appraisers to combat racial bias. He

appraisersblogs.com

This is about slandering an entire profession. They just needed someone to hold the target.

You could call all journalists liars based on one fake news article by someone else, and get away with that?

You could call all doctors butchers and incompetents based on one doctor's medical mishap, or more to the point, prior to finding one doctor's medical mishap and slandering the rest of the profession over it?

And really, this incident isn't much different that the:

shorts wearing, moped riding appraiser, with a parrot, who pees in the bushes, and was paid to take photos of children's bedrooms. Except, that appraiser, did not have a specific name or state.


That's what's going on. And surprise! it's been a decade. The cycle of slandering this profession continues.
Sit and wait for a state board to pick a winner, and you will lose your profession.

.

 

[djd09]

In early March, Biden called appraisers racists.

who's Biden?

 

[Renee Healion]

That was a good letter from the NAA in March. Feel free to write your own letters as this same story appears and reappears. If you can write a report, you can write a quick email.

 

[J Grant]

Nobody gives a crap about this one appraisal, or the appraisers involved, if it even happened.

The article about this appraisal is from August, this year.

In early March, Biden called appraisers racists.

Biden's Claim of Racial Bias in Appraisals Faces Criticism from Appraisers

Over the past week or so, Presidential Candidate Joe Biden publicly called for more regulation and oversight over appraisers to combat racial bias. He

appraisersblogs.com

"Over the past week or so, Presidential Candidate Joe Biden publicly called for more regulation and oversight over appraisers to combat racial bias. "

Above from the link you pasted. He did not call appraisers racists.

 

[Dublin ohio]

"Over the past week or so, Presidential Candidate Joe Biden publicly called for more regulation and oversight over appraisers to combat racial bias. "

Above from the link you pasted. He did not call appraisers racists.

A distinction without a difference.

 

[Meandering]

I remember the camera panning to observers at that hearing. We remarked here that those had to be appraisers because they could hardly stay in their seats. If I recall right you guys raised your hands when asked if there were appraisers there. And so did Joan who had no license to make that claim that day.

And it's a pity, no one called out that perjury of self identifying as being licensed, when she has not had a license in more than a decade.

Silence is golden.

But not to those who stay silent.

What Are the Penalties for Lying to Congress?