The civic record
Read. Follow. Verify.Congressional Hearing on Home Appraisal Bias and Discrimination
Record date · January 1, 2022
Track this bill to get notified when it advances a stage. One tap to stop, anytime.
What This Bill Does
The House Committee on Financial Services held a hearing on March 29, 2022, to examine reports of racial bias and discrimination in the home appraisal industry. The committee discussed how unequal property valuations impact the ability of homeowners in communities of color to build .
This hearing investigates systemic issues in property valuation that directly affect the equity, mortgage eligibility, and long-term financial stability of homeowners in communities of color.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Homeowners in communities of color
These individuals are subject to property valuation processes that may impact their home equity and ability to build generational wealth.
Appraisal industry professionals
These professionals are subject to potential regulatory oversight and industry-wide scrutiny regarding valuation standards and diversity.
Key Facts
- The hearing took place on March 29, 2022, in the Rayburn House Office Building.
- The committee examined the impact of appraisal bias on homeowners and communities of color.
- The hearing addressed the lack of diversity within the professional appraisal industry.
- The committee discussed the financial consequences of both overvaluation and undervaluation of homes.
Show all 6 facts
- Witnesses included representatives from the Appraisal Institute, The Appraisal Foundation, the National Fair Housing Alliance, and the AEI Housing Center.
- The hearing record includes written responses to questions submitted to witnesses and additional materials regarding foreclosure risks in NYC.
Frequently Asked Questions
What is the purpose of this hearing?
Who testified at this hearing?
What else do you want to know?
News Coverage
Follow the record
Votes, people, money & the original sourceFull breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Focus on Appraisal Diversity
The committee is explicitly linking the lack of diversity in the appraisal profession to the prevalence of valuation bias.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy60Intensity of disagreement among stakeholders
- Entertainment20Compellingness for a non-policy-wonk reader
- Buzz30Current news / social attention level
Publisher tools