Black Homeowners Face Discrimination in Appraisals

[Joe Flacco]

The charge by the author that appraisers steal black people's wealth came out before these cases.
THEN the FL case happens.
THEN in the article about these cases the same author makes the charge that white appraisers steal black peoples' wealth. That is a really important quote. It does not appear in some local papers because they edit for their own reasons. But do not let his words pass.

As I understand it, this author thinks Zillow is the answer to the problem of human appraisers.

But go ahead, crowd review appraisal results and self-flagellate.

Appraisers are racist and stealing black people's wealth is some people's conclusion based on the appraisal reports they see without any specific content providing summary of the analysis performed and rationale for opinions and conclusions. The content should be sufficient that the readers conclusion can never be that the appraiser must be racist.

 

[Joe Flacco]

We have a major public trust issue in general and this discrimination thing is just highlighting that. It's not everything is fine and all of a sudden we have this issue.

 

[Renee Healion]

We have a major trust issue that is being inflamed by a demagogue, in my opinion. But it does not matter how weak his work is, he caught the times and his message resonated with people. There was no critical examination of his work.

He did not argue that the game is rigged, or that the finance industry bleeds black consumers. Hell, the complainant in the FL case works as an attorney for one of the finance giants, unless there are two attorneys by her name in her town. So maybe if he could not make his own case, she can do it for him.

 

[Renee Healion]

Despite the flat wrong claim in the article that there is little oversight or regulation over appraisers, there is always a remedy. If a consumer does not like the result or their treatment they can complain. in the three cases, the borrower complained and got a result that suited them. I don't know when the CT case happened, but for the comedian's case, they had to go back 20 years and that appraiser "got fired". This is hardly support for appraisers, white ones, single-handedly destroying black Americans' wealth.

As for the pair of appraisers, let their work be examined by authorities or in litigation. Ethics or competence. But that is one case.

 

[Joe Flacco]

It doesn't really matter if his work is weak. What matters is that the message of distrust in appraisals resonates with people. It is a result of USPAP compliance and enforcement failure over a long period of time.

 

[George Hatch]

There is no aspect about lying in an appraisal that will be offset by appraisers adding more content for the readers to read. I've seen lengthy narratives that spelled every thing out where some of that info was deliberately untrue. They just used more words to tell those lies.

 

[Joe Flacco]

There is no aspect about lying in an appraisal that will be offset by appraisers adding more content for the readers to read. I've seen lengthy narratives that spelled every thing out where some of that info was deliberately untrue. They just used more words to tell those lies.

It is possible that the discrimination accusation in the story may be true and if it is then that would be an ethics issue. But the fact that the message of distrust resonates with people is not because of appraisers ethics.

I personally think that it is unlikely to be a case of discrimation or ethics but is probably a case of incompetence.

The message of distrust resonating with people isn't about ethics or competence.

 

[VALU8]

exactly. if we can't stop this publicity it will be the last box of nails needed for our coffin to replace us with those non-biased AVMs

AVM's may one day happen but my best guess is that the lenders like to have a human to point a finger at when things go sour.

 

[DTB]

Appraisers are racist and stealing black people's wealth is some people's conclusion based on the appraisal reports they see

Of course it's well known the black people read over their home appraisal with a fine toothed comb, unlike everyone else who just go to the value line. Get real Joe. People scream racism to get their way

The message of distrust resonating with people isn't about ethics or competence.

It IS about the rage of the day, nothing more.

 

[VALU8]

He did not argue that the game is rigged, or that the finance industry bleeds black consumers.

The truth is the finance industry bleeds everyone. Capital has no deep loyalties or prejudices.