HUD, OMB Eliminate Policies From Biden-Era Home Appraisal Task Force — RISMedia

The U.S. Department of Housing and Urban Development (HUD) and the Office of Management and Budget (OMB) announced Thursday that it would be terminating key polices from the Biden administration’s Property Appraisal and Valuation Equity (PAVE) Task Force—an initiative launched to address racial bias in home appraisals.

According to a release from HUD, the termination of “specific policies” is meant to eliminate regulatory hurdles, allowing the Federal Housing Administration (FHA) to better serve homebuyers and homeowners.

“By tearing down these onerous hurdles, we’re freeing professionals from a tangle of red tape that drove up costs, inhibited access to homeownership, and discouraged market participation,” said HUD Secretary Scott Turner….