{"id":4609,"date":"2022-03-07T13:26:10","date_gmt":"2022-03-07T18:26:10","guid":{"rendered":"https:\/\/nationalfairhousing.org\/?p=4609"},"modified":"2022-03-07T13:34:29","modified_gmt":"2022-03-07T18:34:29","slug":"u-s-house-committee-on-financial-services-waters-calls-on-regulators-and-industry-to-hold-appraisers-accountable-and-announces-plans-for-legislation","status":"publish","type":"post","link":"https:\/\/nationalfairhousing.org\/u-s-house-committee-on-financial-services-waters-calls-on-regulators-and-industry-to-hold-appraisers-accountable-and-announces-plans-for-legislation\/","title":{"rendered":"U.S. House Committee on Financial Services: &#8220;Waters Calls on Regulators and Industry to Hold Appraisers Accountable and Announces Plans for Legislation &#8220;"},"content":{"rendered":"\n<p class=\"content-wrap-item post__paragraph\">U.S. House Committee on Financial Services | February 22, 2022<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\"><a href=\"https:\/\/financialservices.house.gov\/news\/documentsingle.aspx?DocumentID=409146\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">Read the Full Statement HERE.<\/span><\/a><\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">Today,&nbsp;<strong>Congresswoman Maxine Waters (D-CA)<\/strong>, Chairwoman of the House Financial Services Committee, sent a&nbsp;<strong><a href=\"https:\/\/democrats-financialservices.house.gov\/UploadedFiles\/022222_Appr_Invest_Ltr.pdf\">letter<\/a>&nbsp;<\/strong>to Marcia Fudge, Secretary of the United States Department of Housing and Urban Development (HUD) as well as the Appraisal Subcommittee, the Appraisal Foundation, and the Appraisal Institute regarding ongoing appraisal bias and discrimination,&nbsp;calling on the federal regulators and the Appraisal Institute to investigate&nbsp;appraiser misconduct and potential illegal discrimination.&nbsp;<br><br>The letter highlights longstanding racial inequities plaguing America\u2019s home valuation system, particularly in Black-majority communities and other communities of color. To illuminate the severity of this issue, Chairwoman Waters references an email recently sent by an appraiser who uses racial slurs to describe Black people and implies that appraisers and lenders will deny business to people of color the more discrimination is reported. In response to this email and ongoing reports of discrimination, Waters urges Secretary Fudge, the Appraisal Subcommittee and the appraisal industry to launch a full investigation and announces her plan to introduce legislation to address ongoing discrimination.<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\">\u201cSome may say that the words of one appraiser do not reflect or represent the profession. However, years of data, ongoing research, and numerous settled lawsuits provide ample evidence to the contrary. The email I reference shines a spotlight on the racist stereotypes and harmful lines of thinking prevalent in an industry which systematically devalues the homes of Black people and other people of color&#8230;\u201d<strong>\u00a0wrote Chairwoman Waters<\/strong>. \u201cGiven this email incident and ongoing reports of appraisal discrimination, I will be introducing legislation to address systemic appraisal discrimination.\u201d<\/p>\n\n\n\n<p class=\"content-wrap-item post__paragraph\"><a href=\"https:\/\/financialservices.house.gov\/news\/documentsingle.aspx?DocumentID=409146\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">Read the Full Statement HERE.<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. House Committee on Financial Services | February 22, 2022 Read the Full Statement HERE. Today,&nbsp;Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a&nbsp;letter&nbsp;to Marcia Fudge, Secretary of the United States Department of Housing and Urban Development (HUD) as well as the Appraisal Subcommittee, the Appraisal Foundation, and the Appraisal Institute [&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":[1],"tags":[71],"class_list":["post-4609","post","type-post","status-publish","format-standard","hentry","category-uncategorized","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>U.S. House Committee on Financial Services: &quot;Waters Calls on Regulators and Industry to Hold Appraisers Accountable and Announces Plans for Legislation &quot; - NFHA<\/title>\n<meta name=\"description\" content=\"U.S. House Committee on Financial Services | February 22, 2022 Read the Full Statement HERE. Today,&nbsp;Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a&nbsp;letter&nbsp;to Marcia Fudge, Secretary of the United States Department of Housing and Urban Development (HUD) as well as the Appraisal Subcommittee, the Appraisal Foundation, and the Appraisal Institute [&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\/u-s-house-committee-on-financial-services-waters-calls-on-regulators-and-industry-to-hold-appraisers-accountable-and-announces-plans-for-legislation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. House Committee on Financial Services: &quot;Waters Calls on Regulators and Industry to Hold Appraisers Accountable and Announces Plans for Legislation &quot; - NFHA\" \/>\n<meta property=\"og:description\" content=\"U.S. House Committee on Financial Services | February 22, 2022 Read the Full Statement HERE. Today,&nbsp;Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, sent a&nbsp;letter&nbsp;to Marcia Fudge, Secretary of the United States Department of Housing and Urban Development (HUD) as well as the Appraisal Subcommittee, the Appraisal Foundation, and the Appraisal Institute [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalfairhousing.org\/u-s-house-committee-on-financial-services-waters-calls-on-regulators-and-industry-to-hold-appraisers-accountable-and-announces-plans-for-legislation\/\" \/>\n<meta property=\"og:site_name\" content=\"NFHA\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-07T18:26:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-07T18:34:29+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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalfairhousing.org\/u-s-house-committee-on-financial-services-waters-calls-on-regulators-and-industry-to-hold-appraisers-accountable-and-announces-plans-for-legislation\/\",\"url\":\"https:\/\/nationalfairhousing.org\/u-s-house-committee-on-financial-services-waters-calls-on-regulators-and-industry-to-hold-appraisers-accountable-and-announces-plans-for-legislation\/\",\"name\":\"U.S. House Committee on Financial Services: \\\"Waters Calls on Regulators and Industry to Hold Appraisers Accountable and Announces Plans for Legislation \\\" - NFHA\",\"isPartOf\":{\"@id\":\"https:\/\/nationalfairhousing.org\/#website\"},\"datePublished\":\"2022-03-07T18:26:10+00:00\",\"dateModified\":\"2022-03-07T18:34:29+00:00\",\"author\":{\"@id\":\"https:\/\/nationalfairhousing.org\/#\/schema\/person\/64e3544bbe22ab5e14209fcb54763103\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalfairhousing.org\/u-s-house-committee-on-financial-services-waters-calls-on-regulators-and-industry-to-hold-appraisers-accountable-and-announces-plans-for-legislation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalfairhousing.org\/u-s-house-committee-on-financial-services-waters-calls-on-regulators-and-industry-to-hold-appraisers-accountable-and-announces-plans-for-legislation\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalfairhousing.org\/u-s-house-committee-on-financial-services-waters-calls-on-regulators-and-industry-to-hold-appraisers-accountable-and-announces-plans-for-legislation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalfairhousing.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"U.S. House Committee on Financial Services: &#8220;Waters Calls on Regulators and Industry to Hold Appraisers Accountable and Announces Plans for Legislation &#8220;\"}]},{\"@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":"U.S. House Committee on Financial Services: \"Waters Calls on Regulators and Industry to Hold Appraisers Accountable and Announces Plans for Legislation \" - NFHA","description":"U.S. House Committee on Financial Services | February 22, 2022 Read the Full Statement HERE. 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