NAR Comment Letter to HUD and the White House Regarding the Advance Property Appraisal and Valuation Equity (PAVE) Action Plan

On March 31st NAR sent a letter to HUD Secretary Marcia Fudge and White House Domestic Policy Council Director Ambassador Susan Rice. The letter provides comments on the Action Plan to Advance Property Appraisal and Valuation Equity (PAVE Action Plan) created by the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE Task Force). The letter highlights areas of potential concern to NAR members that require further discussion and revision in order to safeguard the housing market.

 

Combating racial discrimination in the real estate industry is essential to having a fair and accessible housing market that allows all Americans the opportunity to build wealth through homeownership. Appraisals are a vital part of the homebuying process and NAR welcomes this opportunity to work with the Biden Administration to ensure the appraisal profession is free of bias and working efficiently for all parties involved. 

 

The PAVE Action Plan contains many proposals REALTORS^® support and NAR will continue to work with the Biden Administration to help formulate ways to protect consumers.