The American Society of Appraisers (ASA) has expressed its disappointment in the exclusion of appraisals professionals during the Department of Housing and Urban Development’s (HUD) latest event on bias surrounding the home valuation process.
“This marks the second event of its kind that has excluded appraisers or their representatives from these important conversations. On June 15, the Consumer Financial Protection Bureau held their own valuation bias event, absent any meaningful input from the appraisal profession,” read an ASA statement.
The ASA stated that, whether intentional or not, the exclusion of these professionals from valuation-themed discussions, sends the message that their input is “unwanted by those seeking to address issues relating to valuation bias.”
According to ASA, the organization provides ongoing support of HR 2553, the Real Estate Valuation Fairness and Improvement Act of 2021; is on the front lines of legislation advocacy; has presented free education sessions on the topic; and has testified in an investigation regarding valuation bias.
For more information and to read the statement in full, visit www.appraisers.org.
The intentional omission was to protect the consumer I’m sure, like all the past real estate crises have.