US EditionHarris announces new actions to tackle racial bias in home appraisals
- Vice President Harris announced a new rule to prevent racial bias in home appraisals by ensuring that financial institutions' automated home valuation algorithms are fair and accurate. The rule would require AVMs to adopt quality control standards, safeguards against data manipulation and conflicts of interest, and conduct random sampling.
- The administration will make it easier for consumers to appeal biased property valuations and seek reconsideration of value policies. It will also update a public dataset on home appraisal records, add more records, and reduce unnecessary barriers to increase diversity in the appraiser profession.
19 Articles
19 Articles
New federal proposal aims to stop racial bias in formulas used to value homes
WASHINGTON (AP) -- Vice President Kamala Harris said Thursday that federal agencies are taking new steps to stop racial discrimination in appraising home values by proposing a rule intended to ensure that the automated formulas used to price housing are fair.
New federal proposal aims to stop racial bias in formulas used to value homes
WASHINGTON (AP) — Vice President Kamala Harris said Thursday that federal agencies are taking new steps to stop racial discrimination in appraising home values by proposing a rule intended to ensure that the automated formulas used to price housing are fair. “Everyone should be able to take full advantage of their aspiration and dream of owning a home," Harris told reporters on a telephone call. Announcement of the proposed rule comes a year aft…
New federal proposal aims to stop racial bias in formulas used to value homes
Vice President Kamala Harris said Thursday that federal agencies are taking new steps to stop racial discrimination in appraising home values by proposing a rule intended to ensure that the automated formulas used to price housing are fair.“Everyone should be able to take full advantage of their aspiration and dream of owning a home," Harris told reporters on a telephone call.Announcement of the proposed rule comes a year after the administratio…
New federal proposal aims to stop racial bias in formulas used to value homes
Vice President Kamala Harris said Thursday that federal agencies are taking new steps to stop racial discrimination in appraising home values by proposing a rule intended to ensure that the automated formulas used to price housing are fair.“Everyone should be able to take full advantage of their aspiration and dream of owning a home," Harris told reporters on a telephone call.Announcement of the proposed rule comes a year after the administratio…
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