The Federal Financial Institutions Examination Council’s Appraisal Subcommittee (ASC) is scheduled to host a public hearing on Wednesday, November 1, 2023. The upcoming hearing on appraisal bias will focus on how residential appraisals are developed and reviewed, the process for reconsiderations of value, and processes for conducting appraisals in rural areas.
This hearing will be the third in a series of hearings discussing appraisal bias and related issues. In January, the ASC hosted a hearing focused on the appraisal industry generally and how personal biases may enter the residential appraisal process. We published a blog about the hearing. In May, the ASC hosted a second hearing focused on appraiser qualifications, the push for increased diversity in the industry, and the challenges in building an inclusive appraiser talent pool. This third hearing will focus on ensuring quality in appraisals.
The following witnesses will share testimony during the hearing:
- Robbie Wilson, Chief Appraiser, RSDS LLC, and President, National Society of Real Estate Appraisers
- Dean Kelker, Board of Directors, Real Estate Valuation Advocacy Association
- Danny Wiley, Senior Director of Single-Family Valuation, Freddie Mac
- Lyle E. Radke, Senior Director, Single-Family Collateral Risk, Fannie Mae
- Sharon Whitaker, Vice President, CRE & Mortgage Finance, American Bankers Association
The hearing will be held at the U.S. Department of Housing and Urban Development headquarters, and a livestream will also be available to those who register here. Members of the public can also submit written comments on the topics of the hearing to ASCHearing@asc.gov until November 15.