Appraisal bill introduced to counter HUD’s PAVE repeal

Sen. Raphael Warnock, D–Ga., introduced legislation Thursday to address what he called “systemic bias” in the home appraisal process. The proposal comes just one week after the Trump administration disbanded a Biden-era task force that had been focused on addressing racial bias in the housing system.

The bill, called the Appraisal Modernization Act, would require the FHFA to publish property valuations and other data in an online database so that home values are transparent. It would also give homeowners the right to appeal if they disagreed with their home’s appraisal, known as a Reconsideration of Value.

In a statement, Warnock said that the rules were necessary to ensure homeowners have access to all the information they need when buying or selling their house.

“This bill is an…