Fair Lending Appraisals
While it’s no surprise that fair lending is among the regulators’ top issues in 2022 — if not THE top issue — it’s a good idea to be aware of new areas in which this is evaluated. One such area is bias within the appraisal and property evaluation process. This has been a hot topic for a few years now and has been the subject of a Presidential Executive Order, as well as discussions by all the federal government agencies with a stake in residential matters, including loans. As well, several important studies were conducted to determine the extent of the issue, and a task force was established last year to examine the issue. A report was issued earlier this year documenting the task force’s findings, as well as recommendations for eliminating bias within the appraisal and valuation processes.
In this webinar, we’ll go in-depth on this issue, and dissect the various decrees, public statements, studies, and reports. More importantly, we’ll discuss what you can (and should) do as a lender about this issue right now. We’re only at the beginning when it comes to this issue, and the coming months and years promise additional guidance, and even regulation, on this important issue.
What You Will Learn
- Regulatory statements and issuances on appraisal bias
- Issues within the appraiser industry
- Detailed studies conducted by Fannie Mae and Freddie Mac — what did they find?
- FHFA blog post on overt references to bias in appraisal reports
- Department of Justice’s position on the issue, and whether it can be litigated
- The Property Appraisal Valuation Equity (PAVE) task force — meetings and report
- Actions in Congress — letters to HUD and future possibilities
- Impending regulations on Automated Valuation Models (AVMs) and preventing “algorithmic bias)
Who Should Attend
Anyone in the institution having virtually any responsibility in the lending process has fair lending responsibilities, from senior management, loan officers, underwriters, and closing agents, to compliance officers, auditors, and attorneys, and would benefit from this valuable information.
Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, D.C. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.
Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts $279
- 12 Months OnDemand Playback + $110
- 12 Months OnDemand Playback + CD + $140
- Additional Live Access + $75 per person