Freddie Mac vs Appraiser Bias

[djd09]

The Appraisal Foundation Releases Statement on Freddie Mac Appraisal Bias Report​

WASHINGTON, Sept. 21, 2021 /PRNewswire/ -- The Appraisal Foundation issued the following statement today on the release of a research analysis from Freddie Mac on appraisal bias:


"The results of this analysis are deeply troubling," said The Appraisal Foundation President Dave Bunton. "Having data like this publicly available is critical to continuing to address issues of discrimination and promote diversity, equity and inclusion in the appraisal profession. I hope that we will see even more data released on this issue in the near future so we can better understand the best ways to build and uphold public trust in the appraisal profession. The Appraisal Foundation will continue its efforts to create an appraisal profession that is reflective of the United States we live in today and trusted by all Americans. We look forward to working with professional appraisal organizations, federal and state agencies and other stakeholders to address this sobering report."


Media Contact:
Amy Timmerman
(202) 624-3048
amy@appraisalfoundation.org

The Appraisal Foundation Releases Statement on Freddie Mac Appraisal Bias Report

/PRNewswire/ -- The Appraisal Foundation issued the following statement today on the release of a research analysis from Freddie Mac on appraisal bias: "The...

www.prnewswire.com

yeah thanks TAF

 

[Dale Floyd]

Actually, what I would really love is making what TG alleged I make

Don’t tease us Danny. We all know you have jars of money buried all over your back yard, between your Olympic pool and the docked yacht.

 

[djd09]

Eliminating Bias: How Tech Tools Can Help With A Fair Home Valuation​

Originally published on Forbes.com

Earlier this year, lawmakers in Oregon were the first to ban a practice that's been a popular part of the home-buying experience for many years: so-called buyer "love letters."

How Tech Tools Can Help With A Fair Home Valuation

Originally published on Forbes.com

www.svclnk.com

exos

 

[djd09]

hey, Mr. GSE, why dont they waive marin city and the like solving the problem...too risky?

 

[Elliott]

Racial and Ethnic Valuation Gaps In Home Purchase Appraisals​

1. Is there an appraisal gap in minority neighborhoods?​

Appraisers' opinions of value are more likely to fall below the contract price in Black and Latino census tracts, and the extent of the gap increases as the percentage of Black or Latino people in the tract increases.

And census tract criteria is not how an appraiser defines a neighborhood. An appraiser chooses the boundaries of a neighborhood based on community influences, schools, streets, traffic flow, and similar home style, age, and sizes. That's where Freddie made their mistake and choose a variable which has a poor correlation with the appraiser's opinion of neighborhood and market value. Flawed statistical study.

 

[djd09]

the secret group of uad developers thought is was extremely important to keep the census

 

[Tiffany Gibbons]

Trust me that HUD has HMDA data based on race, but imo it is based on like census tracts or some geo area that is not the subject property. I can say that with confidence because I work the largest geo county in TN and in a high density or even semi-density area, there is no area that is not mixed racial. I can go from highest income areas to lowest income areas. It doesn't matter. The areas are mixed racially. Same way with rural. I work many rural areas.

I worked in that county for 23 years of my career and I completely agree. Now, I'm working the areas surrounding the second largest geographic county and it's the same here. Both are big university areas which tend to attract people of all different ethnicities, etc. I do lots of rural areas and everyone just wants to be away from the traffic. Traffic is much, much worse anywhere near Nashville.

 

[djd09]

CA Dem. Eric Swalwell Says It’s “Stupid” For Parents to Want a Say in Their Child’s Education​

CA Dem. Eric Swalwell Says It's "Stupid" For Parents to Want a Say in Their Child's Education * 100PercentFedUp.com * by Amber Crawford

Democrat Rep. Eric Swalwell (CA) recently posted an idiotic tweet suggesting that parents should have zero input in their child’s […]

100percentfedup.com

trust the gov and experts but not the licensed appraiser...

 

[djd09]

Metro families say their homes were undervalued because they are Black​

The Georgia Real Estate Commission & Appraisers Board, as well as three national and state groups representing the appraisal industry, did not return Channel 2 Action News’ request for an on-camera interview for this story.

Metro families say their homes were undervalued because they are Black

One family removed all their photos and had a white neighbor stand in front of their house and the appraisal was $138,000 higher.

www.wsbtv.com

no return call for public trust sake sad. the homeowners should post here, some USPAP expert can explain to them how they are not the client

 

[djd09]

CLIENT: the party or parties (i.e., individual, group, or entity) who engage an appraiser by employment or contract in a specific
assignment, whether directly or through an agent.

INTENDED USER: the client and any other party as identified, by name or type, as users of the appraisal or appraisal review
report by the appraiser, based on communication with the client at the time of the assignment.

An appraiser must not disclose: (1) confidential information; or (2) assignment results to anyone other than:
• the client;

SCOPE OF WORK ACCEPTABILITY

The scope of work must include the research and analyses that are necessary to develop credible assignment results.
Comment: The scope of work is acceptable when it meets or exceeds:

• the expectations of parties who are regularly intended users for similar assignments; and