Obstacles to tech adoption & the question of appraisal bias


HW+ home appraisal

During a panel on residential appraisals, experts posed technology as a way to make appraisals more efficient and less subjective, as regulators take steps to understand and counteract bias.

But tech adoption in appraisal might face an uphill climb. Appraisers themselves — and the regulatory standards they are held to — stand in the way of tech adoption, said Lyle Radke, director of collateral policy at Fannie Mae, during a panel hosted by the Mortgage Bankers Association.

“Appraisers are not PhDs in mathematics,” Radke said. “They’re never going to be able to really articulate how a complex model works.”

This content is exclusively for HW+ members.

Start an HW+ Membership now for less than $1 a day.

Your HW+ Membership includes:

  • Unlimited access to HW+ articles and analysis
  • Exclusive access to the HW+ Slack community and virtual events
  • HousingWire Magazine delivered to your home or office
  • Become a member today

    Already a member? log in

    The post Obstacles to tech adoption & the question of appraisal bias appeared first on HousingWire.


    Source link

    Leave a Comment

    Your email address will not be published. Required fields are marked *