How home appraisal reforms aim to reduce bias

Fairness in lending continues to be top of mind for regulators, with a number of authorities creating new transparencies with the goal of eliminating discriminatory practices and appraisal bias, including the Federal Housing Finance Agency’s recent announcement that it will make public appraisal data from Fannie Mae and Freddie Mac.

Meanwhile, stakeholders in the industry are taking a proactive approach and implementing changes to systems and processes, such as Black Knight’s upgrade of its automated valuation model and the FHFA’s new framework to review and recommend changes to automated models to advance fair lending.

Read our roundup to learn about these developments and other efforts to end appraisal bias and discrimination in the industry.