While it’s no surprise that fair lending is among the regulators’ top issues in 2022 – if not THE top issue – it’s a good idea to be aware of new areas in which this is evaluated. One such area is bias within the appraisal and property evaluation process. This has been a hot topic for a few years now and has been the subject of a Presidential Executive Order, as well as discussions by all the federal government agencies with a stake in residential matters, including loans. As well, several important studies were conducted to determine the extent of the issue, and a task force was established last year to examine the issue. A report was issued earlier this year documenting the task force’s findings, as well as recommendations for eliminating bias within the appraisal and valuation processes.
In this webinar, we’ll go in-depth on this issue, and dissect the various decrees, public statements, studies, and reports. More importantly, we’ll discuss what you can (and should) do as a lender about this issue right now. We’re only at the beginning when it comes to this issue, and the coming months and years promise additional guidance, and even regulation, on this important issue.
Who Should Attend
Anyone in the institution having virtually any responsibility in the lending process has fair lending responsibilities, from senior management, loan officers, underwriters, and closing agents, to compliance officers, auditors, and attorneys, and would benefit from this valuable information.