Report
A Response to the Recommendations of the PAVE Working Group
July 28, 2023
Introduction
On June 1, the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its recommendations on how to address racial bias in home valuations.
While, we agree that the appraisal industry needs to change, PAVE’s recommendations came up short because they do not 1) identify and address the root causes of the industry’s problems, 2) identify and address in a timely and comprehensive manner appraiser racial and ethnic bias and inaccuracies, and 3) avoid overreach and damaging unintended consequences.
