HUD charges Rocket Mortgage, appraisal management company, appraiser with racial discrimination

  • 📰 abc7newsbayarea
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 51%

15063062 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

The release states that HUD found the appraiser generated an insupportably low appraisal of a duplex owned by a Black homeowner in a majority white area of Denver.

The Department of Housing and Urban Development has charged a lender, appraisal management company, and appraiser with racial discrimination and violating the Fair Housing Act in the home appraisal process for the first time since ABC7 News' groundbreaking reporting on the issue created a national conversation and increased awareness.

The charge alleges the appraiser deviated from acceptable methodologies and relied on comparable properties in neighborhoods with greater Black populations and excluded potential comps in neighborhoods with greater white populations. The case could be heard in federal court potentially before a jury if any party chooses that option instead."Under federal law, mortgage lenders are required to work at arm's length during the appraisal process, partnering with independent appraisal management companies who assign the work to state-licensed professional appraisers. The law's intent is to determine the home's value without any input or bias from the lender or any other party with interest in the transaction.

ABC7 News has reported on allegations of discrimination in the home appraisal process for years taking the issue all the way to the White House. Most recently, we shared the story of an East Oakland homeowner who reached a settlement agreement with a California appraiser and a mortgage company after receiving an appraisal that came in more than $300,000 lower than expected.Our America: Lowballed

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 529. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인