Originally published on April 6, 2023, by the Federal Housing Finance Agency.
The Federal Housing Finance Agency FHFA) will host the Appraisal Subcommittee (ASC) on Friday, May 19, 2023, for its second public hearing on appraisal bias in coordination with ASC member agencies. The intent of this hearing is to explore the current regulatory framework for the appraisal industry by focusing on appraisal standards, appraiser qualification criteria, barriers to entry into the profession, and appraisal practices.
“Based on public comments received and information gathered during the first hearing, it was clear that additional information on the appraisal regulatory system as a whole was needed to provide necessary context to any discussion of bias,” said ASC Executive Director Jim Park. “This is an opportunity to expand our understanding of the issues facing today’s appraisal industry and to get a clearer picture of how current practices and the appraisal regulatory system impact lending in this country.”