The leadership turmoil at the CFPB under President Trump has resulted in skepticism surrounding the agency's future and its regulatory authority. Appraisers express concern over the role of Appraisal Management Companies (AMCs) and the potential erosion of consumer protections if the CFPB is rendered inoperable. The administration under President Biden focused on civil rights issues, particularly within home valuations, revealing systemic racial bias in the appraisal process through the PAVE Task Force. However, some appraisers feel scapegoated for these findings, criticizing the flawed methods of the studies used to assess bias.
A lot of appraisers feel like AMCs are just generally in this gray area and they get forgotten about in the regulatory landscape.
A lot of appraisers are sad to see [Rohit Chopra] go. There was hope around it finally getting some attention and that it would go in the right direction.
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