Webinar

HUD sponsored

Collateral Damage: The Consequences of Racial Bias in the Residential Appraisal Process

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Date:

May 19, 2021 | 2:30 PM - 4:30 PM EDT

Location:

Online

Description


"There's been a reckoning of sorts in terms of looking at how property is valued in the intrinsic value of whiteness and blackness in these processes."

Dr. Andre Perry, Senior Fellow of the Metropolitan Policy Program at the Brookings Institute

Stories of bias in the appraisal process have raised the question about how far the United States has yet to go to ensure that everyone can access housing and lending markets free from discrimination. Respectively, the average Black and Latino family has just one-tenth and one-eighth of the wealth of the average White family, much of which is related to home equity. According to researchers and anecdotal evidence, there are stark differences in how properties owned by people of color are valued compared to those owned by Whites. If appraisal bias goes unaddressed, households of color will never be able to reach economic parity with White households.

The National Fair Housing Alliance (NFHA) partnered with the National Fair Housing Training Academy (NFHTA) to host a public forum that explored how fair housing laws can be used to challenge discriminatory appraisals and help build wealth in communities of color. Nearly 600 fair housing partners joined us in this critical conversation.

Overview

  1. Welcome from Cashauna Hill, Executive Director of the Louisiana Fair Housing Action Center, and introduction of panelists:
    • Peter Christensen, General Counsel, LIA Administrators & Insurance Services
    • Andre Perry, Senior Fellow, Metropolitan Policy Program, Brookings Institute
    • Lisa Rice, President and CEO, NFHA
    • Jillian White, Head of Collateral, Better.com
  2. Presentation and discussion by panelists on:
    • Appraiser-specific standards and laws regarding discrimination
    • Historical effects of racism on the devaluation of real property in Black communities
    • Methods used to artificially deflate or inflate appraisals and the consequences for Black families
    • Implicit and explicit bias evidenced in some appraisals
  3. Question and answer session co-moderated by Ms. Hill and Robert Doles, Director of the Office of Systemic Investigation at the Office of Fair Housing and Equal Opportunity

A video of the forum has been posted on this page, along with a transcript of the conversation and a robust resources list for your continued reference.

Learning Objectives

  • Understand the history of appraisal valuations in communities of color and its impact on those residents and communities.
  • Understand the Fair Housing Act's provisions for non-discriminatory appraisals of dwellings.
  • Identify how discrimination may occur in the appraisal valuation process.
  • Explain the impact of discriminatory appraisals on generational wealth.
  • Identify the methods by which a discriminatory appraisal may be challenged.

Audience

Forums target Fair Housing Initiatives Program (FHIP) organizations, Fair Housing Assistance Program (FHAP) agencies, and are open to all other partners interested fair housing.

Materials

Moderator and Panelist Bios


Robert Doles

Robert Doles

Director, Office of Systemic Investigations
FHEO

Moderator

Cashaunda Hill

Cashauna Hill

Executive Director
Louisiana Fair Housing Action Center

Moderator

Lisa Rice

Lisa Rice

President and CEO
National Fair Housing Alliance (NFHA)

Panelist

Andre M. Perry

Andre M. Perry

Senior Fellow, Metropolitan Policy Program
Brookings Institute

Panelist

Peter Christensen

Peter Christensen

General Counsel
LIA Administrators & Insurance Services

Panelist

Jillian White

Jillian White

Head of Collateral
Better.com

Panelist

About the Forums


Forums are online conversations designed to allow multi-directional interactions between HUD and its FHIP and FHAP partners around emerging fair housing issues regarding processing complaints, conducting investigations, and managing agencies. Topics will evolve based on partner needs and interests.

View All National Fair Housing Forums

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Disclaimer: The National Fair Housing Forum webinar series provides training by and to HUD partners, including entities and persons participating in HUD's FHAP Program and FHIP Program. The series offers multidirectional idea sharing in real-time. The views offered by speakers and participants do not necessarily reflect HUD's views. Similarly, unless otherwise noted, documents provided as part of the webinar were created and maintained by other public and private organizations and may not reflect HUD's official position. HUD-produced guidance documents, except when based on statutory or regulatory authority or law, do not have the force and effect of law and are not meant to bind the public in any way. Such guidance documents are intended only to provide clarity to the public regarding existing requirements under the law or HUD policies. The information is not intended to provide legal advice to any individual or entity. Please refer to relevant laws and regulations and/or your own legal advisor before taking any action based on information appearing on this site or any site to which it may be linked. Some materials have been translated into languages other than English; slight variations may have resulted from the translation.

Tags: Fair Housing NFHTA