In a significant move to address racial discrimination in housing, the U.S. Department of Housing and Urban Development (HUD) has charged an appraiser, an appraisal management company, and a lender with discriminatory practices. This case involves allegations against Maksym Mykhailyna, Maverick Appraisal Group, Solidifi U.S. Inc., and Rocket Mortgage, LLC, for issuing a biased appraisal that undervalued a Black homeowner’s property in Denver, Colorado. According to HUD, “The Fair Housing Act protects all of us from discrimination throughout the process of buying a home or securing a home loan,” emphasizing the severity of the charges and HUD’s commitment to enforcing fair housing laws.
HUD’s Charge of Discrimination reveals troubling details about the appraisal process, highlighting inaccuracies and methodological deviations that led to a significantly lower property value. This undervaluation subsequently resulted in the denial of the homeowner’s refinance loan application. Diane M. Shelley, HUD’s Principal Deputy Assistant Secretary for Fair Housing and Equal Opportunity, stated, “Homeownership is crucial to build both generational wealth and housing stability for Black and Brown families.” As the case proceeds, it underscores the ongoing challenges in ensuring equity in housing and the importance of vigilance against discriminatory practices in real estate transactions.
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