Fair Housing/Fair Lending and the real estate appraisergreenspun.com : LUSENET : Fair Lending : One Thread
I am interested in as much information concerning fair housing/fair lending and the real estate appraiser.
I would like to know what appraisers do to violate fair housing or lending laws in their real estate appraisal practices.
Is it a violation of fair housing or fair lending for an appraiser to say that he or she will not go into certain areas to appraise property?
Also, what are some of the terms than should not be used in a real estate appraisal ie "desirability of neighborhood, or exclusive area, pride of ownership, and inclusion or exclusion of particular information all of which translate into lowered values.
Specifically, what information would a real estate appraiser include or exclude which would be a violation of fair housing/fair lending laws?
I will be teaching a course to appraisers within the next few months and would like as much information as possible on these appraisal issues.
R. Dennis Tompkins Peoria, IL
-- R. Dennis Tompkins (email@example.com), March 08, 1999
I have yet to discover any commentary specific to your questions from a regulatory authority or from Freddie Mac, Fannie Mae, etc. Most of what I have run across is individual or lender interpretations which I'm sure you will agree are insufficient to set precedent. I would be interested in viewing any feedback that may be available through this forum.
Randy Steffler First American Appraisal Services Headquartered in San Diego, CA
-- Randy Steffler (firstname.lastname@example.org), April 22, 1999.