Bias in home appraisals focus of session

(Oct. 15, 2021) In other NCUA webinar developments, the agency said this week that, on Oct. 27, it is hosting an event focusing on bias in home appraisals and the racial homeownership gap. (This topic was the subject of in-depth discussion during last August’s 2021 NASCUS State System Summit (S3)). The agency said the 90-minute session, which gets underway at 2 p.m. ET, will highlight how systemic and institutionalized discrimination in the U.S housing system has created a wide wealth gap between races. NCUA said discussion will focus on strategies for closing the homeownership gap and eliminating appraisal bias, due to its direct impact on wealth accumulation for minority homeowners. The event will also explore, the agency said, the collaborative efforts of federal agencies and other stakeholders to initiate valuation and housing policy reforms for more equitable outcomes in communities of color.

LINK:

Understanding Bias in Home Appraisals and the Racial Homeownership Gap