FOR IMMEDIATE RELEASE: March 23, 2022
Washington, D.C. – The Housing Policy Council (HPC) issued the following statement today in response to the Interagency Task Force on Property Appraisal and Valuation Equity’s (“PAVE’s”) release of its Action Plan:
“HPC congratulates the PAVE task force on the release of a detailed Action Plan, following a six-month intensive and inclusive process to examine disparities in the valuation of residential properties. As the report highlights, the steps that federal agencies take to address these disparities will advance the Administration’s critical work to shrink the homeownership and wealth gaps affecting households and communities of color. HPC and our member companies support these efforts and PAVE’s goal to root out discrimination in the appraisal and homebuying process and are pleased to see that the Plan embraces several of the actions recommended by HPC.
The PAVE task force has set forth a series of initiatives that should have a meaningful impact on the quality and accuracy of appraisals, identifying ways to address regulatory challenges, improve consumer understanding, expand and enhance data and research, and update the professional qualifications to become an appraiser. We look forward to continued close engagement with the PAVE task force as it embarks on the critical work to pursue the actions identified in the Plan.”