Readout of Philanthropic Roundtable on Innovative Strategies to Address Appraisal Bias
HUD convenes philanthropic leaders one month after the Biden-Harris Administration unveils Action Plan to Advance Equity in Appraisals
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) on Wednesday convened a virtual Property Appraisal and Valuation Equity (PAVE) Philanthropic Roundtable on Innovative Strategies to Address Appraisal Bias. Leadership from The Brookings Institution and Ashoka joined the discussion, where they unveiled new research on the topic of appraisal bias and announced the winners of their Economic Architecture Challenge.
Philanthropic leaders participated in the roundtable to discuss the critical role philanthropic partners play in addressing appraisal bias.
Secretary Marcia L. Fudge addressed the group, underscoring that the convening is the latest step in the Administration’s commitment to work with and engage philanthropy in addressing inequities in property appraisal and valuation. Melody Taylor, Executive Director of the PAVE Task Force, noted that the March release of the PAVE Action Plan made clear the federal government’s commitment toward addressing the persistent racial wealth and homeownership gaps.
During the meeting, attendees engaged in conversations on key issues, including research gaps, consumer education, and actions to increase diversity in the appraisal workforce. The group also discussed how philanthropic partners can work more closely with HUD and the White House Domestic Policy Council to further the mission. The group closed Wednesday’s meeting with a strategy discussion on how best to collaborate to advance equity in the appraisal and homebuying process.
The list of speakers during the open session of Wednesday’s convening is below:
- Housing and Urban Development Secretary Marcia L. Fudge
- Melody Taylor, PAVE Task Force Executive Director
- Erika Poethig, Special Assistant to the President for Housing and Urban Policy at The White House Domestic Policy Council
- Mark O’Donovan, Chief Executive Officer of Chase Home Lending
- Dr. Andre M. Perry, Senior Fellow at The Brookings Institution
- Dr. Stuart Yasgur, Vice President & Global Leadership Group Member of Ashoka
- Mia M. Bailey, International and Philanthropic Affairs at HUD