Senator Reverend Warnock’s legislation would empower Georgians with more data and tools to fight bias that would lower their homes’ values

 For most Americans, the largest driver of wealth is their home. This makes it important to have accurate, unbiased home valuations

Research from Brookings has found homes in Black neighborhoods are valued roughly 21% to 23% below what their valuations would be in non-Black neighborhoods

In March, Senator Warnock introduced a comprehensive legislative package of housing bills to address the ongoing housing affordability and availability crisis in the United States

ICYMI from The Atlanta Voice: Warnock leads Senatorial effort to even the playing field in home appraisals

Senator Warnock: “This bill is an important next step in helping Georgia families and all Americans realize the full value of their homes, and it empowers them with more data and tools to fight bias that would lower their homes’ values”

Washington, D.C. – Today, U.S. Senator Reverend Raphael Warnock (D-GA) and five of his Senate colleagues introduced new legislation to address appraisal bias in the home buying and selling processes. Housing appraisals are supposed to provide an objective estimate of a home’s market value to ensure homebuyers pay a fair price and homeowners receive the full value of their home. Unfortunately, systemic bias in the appraisal process has disadvantaged families of color for far too long. To combat appraisal biases faced by many current and aspiring homeowners, Senator Warnock’s Appraisal Modernization Act empowers Georgians with more data and tools to fight bias that would lower their homes’ values. The legislation would:

• Increase transparency to support oversight and enforcement against bias by requiring the Federal Housing Finance Agency (FHFA) to publish an online database of property-level appraisal and other home valuation data that lenders collect in connection with a mortgage application.

• Protect and empower consumers by codifying a consumer’s right to appeal a home valuation (also known as a Reconsideration of Value (ROV)) or request a second appraisal and directing the development of standardized policies to ensure consistent treatment of consumers who request an ROV or second appraisal.

Together, these provisions will empower consumers to realize the full value of their homes. The urgency of this legislation was only further heightened when, last week, the Trump administration announced it was ending the federal task force dedicated to removing racial bias from the appraisal process. 

“Home valuations are a critical part of the mortgage lending process and ensuring families can build generational wealth through homeownership,” said Senator Reverend Warnock. “This bill is an important next step in helping Georgia families and all Americans realize the full value of their homes, and it empowers them with more data and tools to fight bias that would lower their homes’ values.”

“I am very proud to continue the work I started as County Executive to make homeownership more equitable and accessible. As County Executive I signed a law that outlawed appraisal bias in Prince George’s County – and now it’s time we outlaw it across the nation. Home ownership should not be just a dream for the rich but an opportunity for all. Many Marylanders see home ownership as the surest way to build wealth, and they’re right. This legislation will increase transparency, protect consumers, and give Marylanders a true chance to thrive,” said Senator Alsobrooks.

“Too many families of color suffer from systemic biases in the home appraisal process,” said Senator Booker. “One of the largest drivers of wealth for Americans is their home, and the color of your skin should not be a determinant of your home’s value. This bill is a critical step in ensuring more reliable appraisal methods, and empowering consumers to appeal potentially discriminatory valuations.”

“For far too long, the American Dream of buying a home has been kept out of reach for families of color by a system that is fundamentally broken,” said Senator Kim. “Every family should be able to achieve that dream, and this bill will take common sense steps to make the changes needed to make those dreams come true.”

Inconsistency in the appraisal market can disrupt the entire housing ecosystem by improperly inflating or deflating home values, while bias can perpetuate historic disinvestment in communities of color and contribute to the widening racial and ethnic wealth and homeownership gaps. That is why industry stakeholders and fair housing advocates have long supported increasing transparency in appraisal data and why most responsible lenders believe ROV is an important part of maintaining the integrity of the appraisal process. Several studies have also identified a clear relationship between lower valuations and Black neighborhoods and revealed overt references to race in appraisals. On average, today White families hold $1.3 million in wealth, compared to $211,000 for Black and $227,000 for Latino families. For most Americans, the largest driver of wealth is their home. This makes it important to have accurate, unbiased home valuations.

“An appraisal has the power to determine the value of a consumer’s most important financial asset and can hold the key to determining whether the consumer is able to purchase a permanent home rather than rent, access credit on reasonable terms, and build wealth for generations to come,” said Nikitra Bailey, Executive Vice President of the National Fair Housing Alliance® (NFHA™). “NFHA commends Senator Warnock and his colleagues for a sensible bill designed to help consumers, appraisers, and lenders obtain the data necessary to ensure home valuations are fair and consistent.”

“The Housing Policy Council (HPC) has long advocated for extending access to GSE data to all market participants, to enhance risk management models and practices across the housing finance ecosystem. Shared access to all government appraisal data would be a good first step to accomplish this worthy goal. HPC looks forward to working with Senator Warnock on this important policy objective,” said Ed DeMarco, President of the Housing Policy Council.

“As President of NAMB, I will always support any legislation that ensures the fairness, protection, and privacy of homebuyers, and I applaud Senator Warnock for leading this effort. The reality is that we must be thorough in the quest to protect consumers, and we hope that your colleagues will consider this important bill as it navigates the legislative process,” said James Nabors II, President of the National Association of Mortgage Brokers.

“The Appraisal Modernization Actis a vital first step toward remedying the decades of discrimination that have been baked into the home valuation system. The public appraisal database will enable researchers to develop more reliable valuation methods that do not rely on old data tainted by unacceptable attitudes and practices. And strengthening the consumer’s right to appeal a defective valuation will help them to protect their home equity going forward,” said Andrew Pizor, Senior Attorney, National Consumer Law Center

“For most homeowners, their home represents family, stability and their primary financial asset,” says Laura Arce, senior vice president, Economic Initiatives at UnidosUS. “The economic value of that home includes many factors, but the race or ethnicity of its owner should not be one of them. UnidosUS supports the Appraisal Modernization Actand applauds its sponsors, Senators Warnock, Alsobrooks, Blunt Rochester, Kim, Warren, and Booker. The home appraisal industry is overdue modernization, and this bill will bring needed transparency and a common sense right to appeal to the appraisal process. American families should not have to continue to leave equity behind.”

As a member of the Senate Banking Committee, which oversees federal housing policies, Senator Warnock has worked to increase affordable housing and illuminate a path to homeownership, a cornerstone of the American Dream. As one of twelve brothers and sisters growing up in public housing in Savannah, Senator Warnock deeply understands the importance of having a place to call home and homeownership. In March 2025, Senator Warnock introduced a comprehensive legislative package of housing bills to address the ongoing housing affordability and availability crisis in the United States. In the past few years, Senator Warnock voted for government funding legislation that increased America’s housing supply, strengthened housing affordability, and addressed the homelessness crisis, including by: increasing the supply of affordable housing nationwide with funding to build 10,000 new rental and homebuyer units; extending funding for the Yes In My Backyard (“YIMBY”) grant program to support efforts to increase our nation’s housing supply and lower housing costs through state and local zoning changes; and delivering $275 million in new funding for Homeless Assistance Grants to help address homelessness in communities across the country and providing new resources to better connect people experiencing homelessness with health care services. Senator Warnock has also secured nearly $80 million in housing investments to provide affordable housing options for Georgians at all income levels and repair hazardous housing conditions in low-income housing units. 

In addition to Senator Warnock, the Appraisal Modernization Act is cosponsored by U.S. Senators Angela Alsobrooks (D-MD), Lisa Blunt Rochester (D-DE), Cory Booker (D-NJ), Andy Kim (D-NJ), and Elizabeth Warren (D-MA). 

A fact sheet on the legislation can be found HERE.

Bill text for the Appraisal Modernization Act can be found HERE.

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