Combating Appraisal Bias Series: What Housing Counselors Need to Know

Research shows that homeownership has been hindered by racial and ethnic inequities within home lending and appraisal processes. A core benefit of homeownership is that the homeowner can build wealth by leveraging and growing their home’s equity. However, that can all be shattered by an appraiser’s opinion of value based upon selection of comparable properties and the adjustments and weighting applied to those selections. The appraiser’s opinion has subjective elements that are based on their expertise, and their familiarity with the neighborhood. According to researchers and anecdotal evidence, there are stark differences in how properties owned by people of color or located in areas with high concentrations of minority residents are valued compared to those owned by Whites or located in White neighborhoods. If appraisal bias goes unchecked, households of color will never be able to reach economic parity with White households.

This session discussed the strategies outlined in the Property Appraisal and Valuation Equity (PAVE) Action Plan to combat appraisal bias, as well as resources counselors can access to support individuals who have been impacted. The session introduced how Fair Housing Initiatives Program (FHIP)/Fair Housing Assistance Program (FHAP) organizations and housing counseling agencies (HCAs) can combine efforts to combat appraisal bias.

View all trainings in the Combating Appraisal Bias Series: Identify, Empower, and Collaborate.

Speakers

• David Berenbaum, Deputy Assistant Secretary, OHC, HUD
• Melody Taylor, Associate Deputy Assistant Secretary for Enforcement Compliance, FHEO, HUD, Executive Director, PAVE Senior Advisor, National Fair Housing Training Academy (NFHTA)
• Ayako Marsh Miranda, SRA, President, A&B Real Estate Group, Subcontractor to ICF
• Falon Young, Housing Policy Associate, Neighborhood Housing Services of Chicago
• Michael Ibanez, Senior HomeOwnership Counselor, Neighborhood Housing Services of Chicago
• Julianne Howard-Gibbon, Supervising Attorney at Fair Housing Advocates of Northern California (FHANC)

Learn more about the Roundtable speakers.

Training Objectives

Participants learned about:

• Racial appraisal bias in home property valuations
• Actions outlined in the PAVE Action Plan that federal agencies have collaborated on and made commitments to root out appraisal bias
• Recommendations and best practices for counseling clients and individuals who have been impacted by appraisal bias (e.g., homeowner education - preparing a client for an appraisal, appraisal appeal process/reconsideration of value, developing a homeowners’ bill of rights to receive a fair and equitable appraisal)
• Available resources which can support housing counselors and their clients

Who Should Attend?

This training was intended for HUD-approved HCAs.

Additional Information

Visit the Housing Counseling Webinar Archives page for more trainings presented by the Office of Housing Counseling (OHC).

Webinar Certificate

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U.S. Department of Housing and Urban Development (HUD)

Combating Appraisal Bias Series Registrar | trainings@hudexchange.info