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The Week Ahead: FHFA to Host Hearing on Appraisal Bias

The Federal Housing Finance Agency (FHFA) will host the Appraisal Subcommittee (ASC) on Friday, May 19, 2023, for its second public hearing on appraisal bias in coordination with ASC member agencies at 9:00 a.m. Central at FHFA Headquarters in Washington, D.C.

The intent of this hearing is to explore the current regulatory framework for the appraisal industry by focusing on appraisal standards, appraiser qualification criteria, barriers to entry into the profession, and appraisal practices.

The following witnesses will share testimony during the Hearing:

“Based on public comments received and information gathered during the first hearing, it was clear that additional information on the appraisal regulatory system as a whole was needed to provide necessary context to any discussion of bias,” said ASC Executive Director Jim Park. “This is an opportunity to expand our understanding of the issues facing today’s appraisal industry and to get a clearer picture of how current practices and the appraisal regulatory system impact lending in this country.”

The hearing will be held at FHFA Headquarters in Washington, D.C., and requires advanced registration. It will also be live streamed and recorded for those who cannot attend in-person.

“Public hearings on appraisal bias are critical to gathering vital information and listening to diverse perspectives on a key component of the home purchase process,” said FHFA Director Sandra L. Thompson. “FHFA remains committed to working with our federal partners to advance equitable and fair home valuations and keep this issue front and center.”

Click here for more information or to register for the Appraisal Subcommittee’s Hearing on Appraisal Bias.

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About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

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