Over the past year, far too many stories recounting the serious and all too frequent problem of racial bias latent in home buying and homeownership have made major headlines.
I say enough is enough. HUD is doing something about it. Follow along: 1/
I say enough is enough. HUD is doing something about it. Follow along: 1/
Every time I see one of these stories, like the story in Marin County, I am reminded why the work we do at @HUDGov to combat appraisal bias through the interagency Property Appraisal and Valuation Equity task force (#PAVETaskForce) is so important. 2/ pressdemocrat.com/article/news/a…
HUD, along with @AmbRice46 and the @WhiteHouse Domestic Policy Council, is taking on these issues from the root.
And early next year, we're planning to put forward a set of actions and recommendations that will help end these discriminatory practices for good. 3/
And early next year, we're planning to put forward a set of actions and recommendations that will help end these discriminatory practices for good. 3/
Our agency is responsible for the enforcement of the Fair Housing Act, and we are making clear the requirements for appraisals under the law.
We are strengthening our actions and guidance to make sure those in real estate understand where bias may be entering the process. 4/
We are strengthening our actions and guidance to make sure those in real estate understand where bias may be entering the process. 4/
PAVE is doing the work to fix this but not without the help of partners across the housing landscape.
It will take the time and work of agencies, financial institutions, and the appraisal and real estate industry to meet a problem of this size with an adequate solution. 5/
It will take the time and work of agencies, financial institutions, and the appraisal and real estate industry to meet a problem of this size with an adequate solution. 5/
In the meantime, I want to remind everyone that if you believe you have experienced discrimination in the appraisal of your home for any reason, file a complaint with HUD’s Office of Fair Housing and Equal Opportunity: 6/ hud.gov/program_office…
If you are working in the mortgage or real estate industry, you should refer to our recent guidance related to Appraisals and Fair Housing Compliance issued last month. 7/
This Administration is committed to rooting out discrimination in the appraisals process.
HUD and I know that the key to building security, stability, and generational wealth begins with homeownership. It's time to make equity in home owning and buying a reality for ALL.
HUD and I know that the key to building security, stability, and generational wealth begins with homeownership. It's time to make equity in home owning and buying a reality for ALL.
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