Why Mortgage Lenders Are Ignoring Trump’s Rollback on Home Appraisal Reviews

Why mortgage lenders are ignoring Trump’s rollback on home appraisal reviews

Trump has scrapped some of the guidelines, part of his team’s vow to stamp out what it sees as initiatives that support diversity, equity and inclusion.

Why Mortgage Lenders Are Ignoring Trump’s Rollback on Home Appraisal Reviews

Federal reforms aimed at addressing race disparities in home appraisals face opposition from the Trump administration. But some of the country's biggest banks say they'll keep their policies.

Mortgage lenders stick with Biden-era reappraisal guidance

President Trump and his administration have begun to scrap new mortgage lending guidelines that made it easier for home buyers and sellers to dispute property appraisals, finding that homes owned by racial minorities are routinely valued lower than comparable homes with white owners. But despite the promised regulatory relief, many mortgage lenders say the regulatory changes will not impact their lending practices.

Why US mortgage lenders are ignoring Trump’s rollback on home appraisal reviews

At one mid-sized US mortgage lender, almost a quarter of customers who dispute property appraisals find that the value of their home had been miscalculated.