Objective and Unbiased Appraisals

The Underwriter must ensure that the appraiser

• described the property and the neighborhood in factual, unbiased, and specific terms;

• considered all factors that have an effect on value; and

• was objective and unbiased in the development of the opinion of market value in the appraisal report.

A number of federal, state, and local laws prohibit discrimination in the appraisal of housing. Homium expects professional appraisers to fully understand that discriminatory valuation and appraisal reporting practices are not only illegal, but also unethical. Unintentional discrimination can occur in the appraisal report as the result of what an appraiser states, or fails to state. The underwriter and appraiser must ensure the appraisal is not in violation of any unacceptable appraisal practices (see Unacceptable Appraisal Practices).