An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner.

Steve Murray on new brokerage models, CFPB crackdowns

Today’s HousingWire Daily features a discussion on the emergence of a new brokerage model and the validity behind the concerns against institutional investors.

Appraisals & ValuationsBlack HomeownershipPolitics & Money

Home appraisal’s ugly history and uncertain future

The industry that emerged from eugenics, redlining faces racial bias charges today

HW+ home appraisal

This is Part I of a deep dive into the home appraisal industry, which has faced a growing number of claims of racial bias. Today we explore the origins of the appraisal industry and its current lack of diversity. In Part II, we will examine what hard evidence of bias exists, and the assumptions behind home appraising. 

Pat Turner’s mother was a child welfare worker in Suffolk, Virginia, during the Jim Crow era, who helped children of all races. 

“My mother would come home about every month with a new child. And she would run that child a bath, and throw away their clothes, and give them clothes of mine to wear,” he said.

Turner said his mother was “well ahead of her time,” a white person in southern Virginia who supported the civil rights movement during the 1950s.

Turner attended the University of Richmond, graduated in 1972 and stayed in the Virginia capital to work as a real estate appraiser. Now in his 49th year on the job, Turner bristles at accusations that home appraisers discriminate against racial minorities. But he acknowledges that social observations enter into his calculations.

“Where the lines are drawn are where the employment rates are out of balance. When you ride through a neighborhood, and there are guys smoking something midday that are definitely of employment age. The Black neighborhoods get hit harder by unemployment,” said Turner, who has run P.E. Turner & Co since 1990. 

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