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House Bill Would Set Up Agency to Fight Appraisal Bias

Sunday, Apr 03 2022
Lending
Written by  The Mortgage Leader

Rep. Maxine Waters (D-Calif.) has introduced legislation that would create a new Federal Valuation Agency in a bid to stamp out appraisal bias. So reports Credit Union Times.

Maxine Waters CroppedIn a House Financial Services Committee hearing, Waters said that the bill addressed recent suggestions by President Joe Biden’s Interagency Task Force on Property Appraisal and Valuation Equity.

According to U.S. Census data, while 75% of white families own homes, that’s true for only 45% of Black families and 50% of Latino families.

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