{"id":4118,"date":"2022-01-24T07:00:00","date_gmt":"2022-01-24T12:00:00","guid":{"rendered":"https:\/\/nationalfairhousing.org\/?p=4118"},"modified":"2022-01-26T20:50:05","modified_gmt":"2022-01-27T01:50:05","slug":"the-appraisal-industrys-governance-problem-housingwire","status":"publish","type":"post","link":"https:\/\/nationalfairhousing.org\/the-appraisal-industrys-governance-problem-housingwire\/","title":{"rendered":"The appraisal industry\u2019s governance problem (HousingWire)"},"content":{"rendered":"\n<p class=\"content-wrap-item post__paragraph\">Imagine if the&nbsp;<strong>Consumer Financial Protection Bureau<\/strong>\u2019s Board of Trustees was appointed by industry sponsors who paid a $7,500 fee.<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">In this scenario, the majority of the board would be required to be industry creditors. The board would also appoint the agency\u2019s rule-writing staff \u2014 and they would be creditors, too.<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">The staff wouldn\u2019t have to give up their industry perches while they wrote rules, and the rules they wrote would not only set the standards for industry practices, but also the criteria for entering it. The rules would be adopted in all 50 states.<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">That was the startling and totally hypothetical analogy made, based on the current structure of the&nbsp;<strong>Appraisal Foundation<\/strong>, in a scathing&nbsp;<a href=\"https:\/\/nationalfairhousing.org\/wp-content\/uploads\/2022\/01\/2022-01-18-NFHA-et-al_Analysis-of-Appraisal-Standards-and-Appraiser-Criteria_FINAL.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">report<\/a>&nbsp;released this week.<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">The report, commissioned by the&nbsp;<strong>Appraisal Subcommittee<\/strong>&nbsp;and led by the&nbsp;<strong>National Fair Housing Alliance<\/strong>, found that the appraisal industry, in sharp contrast to other sectors in housing finance, has been allowed to regulate itself.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Imagine if the&nbsp;Consumer Financial Protection Bureau\u2019s Board of Trustees was appointed by industry sponsors who paid a $7,500 fee. In this scenario, the majority of the board would be required to be industry creditors. The board would also appoint the agency\u2019s rule-writing staff \u2014 and they would be creditors, too. The staff wouldn\u2019t have to [&hellip;]<\/p>\n","protected":false},"author":433,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29],"tags":[71],"class_list":["post-4118","post","type-post","status-publish","format-standard","hentry","category-print-online-coverage","tag-appraisal-bias"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The appraisal industry\u2019s governance problem (HousingWire) - NFHA<\/title>\n<meta name=\"description\" content=\"Imagine if the&nbsp;Consumer Financial Protection Bureau\u2019s Board of Trustees was appointed by industry sponsors who paid a $7,500 fee. In this scenario, the majority of the board would be required to be industry creditors. The board would also appoint the agency\u2019s rule-writing staff \u2014 and they would be creditors, too. The staff wouldn\u2019t have to [&hellip;]\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalfairhousing.org\/the-appraisal-industrys-governance-problem-housingwire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The appraisal industry\u2019s governance problem (HousingWire) - NFHA\" \/>\n<meta property=\"og:description\" content=\"Imagine if the&nbsp;Consumer Financial Protection Bureau\u2019s Board of Trustees was appointed by industry sponsors who paid a $7,500 fee. In this scenario, the majority of the board would be required to be industry creditors. The board would also appoint the agency\u2019s rule-writing staff \u2014 and they would be creditors, too. The staff wouldn\u2019t have to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalfairhousing.org\/the-appraisal-industrys-governance-problem-housingwire\/\" \/>\n<meta property=\"og:site_name\" content=\"NFHA\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-24T12:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-27T01:50:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalfairhousing.org\/wp-content\/uploads\/2022\/03\/NFHA_full_purple.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Rachel VanArsdale\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rachel VanArsdale\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalfairhousing.org\/the-appraisal-industrys-governance-problem-housingwire\/\",\"url\":\"https:\/\/nationalfairhousing.org\/the-appraisal-industrys-governance-problem-housingwire\/\",\"name\":\"The appraisal industry\u2019s governance problem (HousingWire) - NFHA\",\"isPartOf\":{\"@id\":\"https:\/\/nationalfairhousing.org\/#website\"},\"datePublished\":\"2022-01-24T12:00:00+00:00\",\"dateModified\":\"2022-01-27T01:50:05+00:00\",\"author\":{\"@id\":\"https:\/\/nationalfairhousing.org\/#\/schema\/person\/64e3544bbe22ab5e14209fcb54763103\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalfairhousing.org\/the-appraisal-industrys-governance-problem-housingwire\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalfairhousing.org\/the-appraisal-industrys-governance-problem-housingwire\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalfairhousing.org\/the-appraisal-industrys-governance-problem-housingwire\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalfairhousing.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The appraisal industry\u2019s governance problem (HousingWire)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalfairhousing.org\/#website\",\"url\":\"https:\/\/nationalfairhousing.org\/\",\"name\":\"NFHA\",\"description\":\"National Fair Housing Alliance\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalfairhousing.org\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalfairhousing.org\/#\/schema\/person\/64e3544bbe22ab5e14209fcb54763103\",\"name\":\"Rachel VanArsdale\",\"url\":\"https:\/\/nationalfairhousing.org\/author\/rachelvanarsdale\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The appraisal industry\u2019s governance problem (HousingWire) - NFHA","description":"Imagine if the&nbsp;Consumer Financial Protection Bureau\u2019s Board of Trustees was appointed by industry sponsors who paid a $7,500 fee. In this scenario, the majority of the board would be required to be industry creditors. The board would also appoint the agency\u2019s rule-writing staff \u2014 and they would be creditors, too. The staff wouldn\u2019t have to [&hellip;]","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalfairhousing.org\/the-appraisal-industrys-governance-problem-housingwire\/","og_locale":"en_US","og_type":"article","og_title":"The appraisal industry\u2019s governance problem (HousingWire) - NFHA","og_description":"Imagine if the&nbsp;Consumer Financial Protection Bureau\u2019s Board of Trustees was appointed by industry sponsors who paid a $7,500 fee. In this scenario, the majority of the board would be required to be industry creditors. The board would also appoint the agency\u2019s rule-writing staff \u2014 and they would be creditors, too. 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