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Statement

FHFA Acting Director Sandra L. Thompson's Statement on the Final Report from the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE)

FOR IMMEDIATE RELEASE
3/23/2022

I applaud U.S. Department of Housing and Urban Development (HUD) Secretary Marcia Fudge and Domestic Policy Council Director Susan Rice for their leadership of the PAVE Task Force and the development of this final report. Today's report affirms the persistence of bias in the housing finance system and provides a roadmap for the federal government to work across agencies, and with Congress, the civil rights community, and industry stakeholders to take meaningful steps against factors that contribute to the mis-valuation and devaluation in property appraisals experienced by borrowers and communities of color.

FHFA does not tolerate housing discrimination. We remain focused on addressing valuation bias by ensuring compliance with federal fair lending laws, evaluating appraisal standards, and working with HUD and other interagency partners to share information and resources that strengthen fair lending oversight of the mortgage finance system.

PAVE Action Plan to Advance Equity in Appraisals

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Contacts:

​Adam Russell Adam.Russell@FHFA.gov

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