• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Update from Shane Lanham

Have any been criminally charged with racial bias?
None that I'm aware of. I suspect, even in this activist's world, that prosecutors are are generally much smarter and more accountable than bureaucrats. I believe this movement is an outgrowth of activists gaining public employment and allowed to/encouraged to promote their causes by any means at taxpayers expense. It is not about holding individual appraisers accountable...it is just another route to loot the Treasury.
 
3 values so far off the $185,000 potential list price....
No wonder borrowers question the appraisal process....
 
ummmm...two values were close...and the third was a blowout :rof:
 

Indy homeowner accused appraisers of racial bias. Here's what happened next​


Inquiries into a Black Indianapolis woman's claims that racial bias resulted in two low home appraisals she received during the pandemic have dragged on for years, with fallout for all three appraisers involved.


that story is a wow... :rof:
Great find!

This is the Indiana case with two appraisals at $110k and $125k, and a third at $259k. Per the article, the appraiser of the $259k valuation was suspended by HUD for 12 months and required to take education to rejoin the panel because of that $259k report.

Side note - I filed FOIA requests from HUD regarding this case and received responses that there is nothing to provide as the case is still under investigation. Per the article it appears this is still an open investigation after 4.5 years.
 

The third appraisal​

As Duffy sought extra scrutiny of her two lowest appraisals, the assessment that resulted in the highest valuation of her home — and left her feeling vindicated — also was being scrutinized.

Conducted by appraiser Kenneth Abbring of Greencastle, that review valued Duffy's home at $259,000.

Abbring and his attorney, Alex Beeman, did not respond to multiple IndyStar requests for comment.

In 2022, Abbring's appraisal report for Quicken Loans LLC underwent a FHA review. The federal agency, which exist within HUD, found several deficiencies, such as omitting the name and characteristics of the neighborhood, and assuming without justification that sales from other areas replicated the neighborhood and property characteristics.

HUD also noted that Abbring failed to develop a site value for Duffy's property and the Flanner House Homes National Historic District, resulting in the appraised value exceeding the sales price of improved properties in the neighborhood in the preceding 24 months. The improved property value, according to the report, exceeded any home sale in the neighborhood until that time by 43.8%.

what is there to investigate... :rof:
 
so now we base appraisal values on the list price...it is really to early to be drinking :rof:
Sounds as if the potential list price played an integral part of the situation....
 
yeah...the realtor needs to dupe the homeowner to make their paycheck :rof:
 
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Back
Top