Maryland Commission versus Appraiser Bias

[Zoe]

HUD collects data on all discriminatory basis. HUD collects discriminatory data on every home loan that is sold to a GSE or A LOAN made by a govt insured bank for a home loan.

I think you can choose as a borrower not to disclose your discriminatory basis in the loan process. That is your choice I think. Do not quote me.

 

[shrubberyvaluation]

Just read this if you don't believe me:

The History of Lending Discrimination

Laws have made lending more equitable, but the effects of ongoing discrimination against people of color continues to bolster the racial wealth gap.

www.investopedia.com

Appraisers are not lending money, we are just reporting. Our reporting can only exacerbate redlining insofar as how our reports are used. I'm curious how much of "redlining" had to do with seeing an area as not being profitable. Wouldn't this just make an opportunity for someone else to make major profits if redlining was purely racial and not financial. Were there areas that lenders did not want to lend that did not have a large minority population?

 

[Zoe]

Be clear on my conclusion. The hammer will fall on lenders and agents. My opinion is prospective. I am not giving appraisal. No opinion of value.

 

[Zoe]

It is coming.

 

[Joe Flacco]

It is coming.

You mean like how the Federal Trade Commission was coming to deal with the AMC?