The PAVE Task Force is the first of its kind interagency initiative to address racial bias in home appraisals. In the latest report, federal agencies are looking to enforce their existing authority to empower homeowners and increase the oversight and accountability of those working in the appraisal industry. Some of the highlights of this release include:
- Outlines the historical role of racism in the valuation of residential property
- Increase accountability of appraisal industry
- Empower consumers with information and assistance should they receive a home valuation that is low
- Prevent algorithmic biases when it comes to home valuation
To read the full Executive Summary click here
