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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | March 10, 2023 10:53 AM |
|---|---|
| From: | Representative Morgan Cephas |
| To: | All House members |
| Subject: | Fair Real Estate Appraisals |
| Bound by the federal Fair Housing Act, home appraisers are prohibited from discriminating against homeowners based on their race, religion, national origin, or gender. In addition, Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 requires appraisers to follow a certain standard of unbiased ethics and performance. However, even these strict laws do not prevent home appraisers from discriminating against people of color. With little regulation or oversight, appraisals can make or break the value of a home. That is why I am introducing legislation to require real estate appraisers to complete training regarding bias and discrimination prior to receiving their certification or licensure or prior to renewing their certification or license. The legislation would also prohibit a licensed or certified real estate appraiser from incorporating bias or discrimination into their appraisal of real estate. It is important that we put training in place that make appraisers aware of the presence of bias and discrimination in housing and ensure that they are conducting themselves with equity and fairness in their role as appraisers. Every family deserves a fair shot at their dream home. Please join me in co-sponsoring this important legislation to ensure that everyone’s dreams can become a reality. |