Interagency Task Force on Property Appraisal and Valuation Equity

Taking A Closer Look At Home Appraisal Reforms

Posted on by TMN Editor
By SCOTT KIMBLER As officials work to address racial bias in home valuations, leaders at a public policy think tank in Washington, DC, are saying recent recommendations made by a federal task force miss the mark. The Interagency Task Force on Property Appraisal and Valuation Equity, or PAVE for short, was created in June of 2021 to tackle the problem of racial and ethnic bias in home valuations. Comprised of 13 federal agencies and offices, it is co-led by officials at the U.S. Department of Housing and Urban Development and the White House Domestic Policy Council. In March of 2022, the PAVE Action Plan was released, and this past June the Biden-Harris administration announced a set of actions to deliver…

FHFA: Encouraging Trend Seen In Efforts To Reduce Valuation Gaps

Posted on by TMN Editor
By KIMBERLEY HAAS Officials at the Federal Housing Finance Agency say racial and ethnic valuation gaps in home appraisals are being reduced in a majority of states. ​​​​​​​​​​​​​​​​According to a blog published Tuesday, “Although an appraisal valuation gap continues to exist between white and minority population tracts, data indicate a reduced gap following actions by stakeholders and federal, state, and local agencies, including the release of the PAVE Action Plan.” The federal Interagency Task Force on Property Appraisal and Valuation Equity was created in June of 2021 to tackle the problem of racial and ethnic bias in home valuations. It is comprised of 13 federal agencies and offices and is co-led by officials at the U.S. Department of Housing and…