June 06, 2023

NCUA to host webinar on efforts to combat bias in home valuations

NCUAIn recognition of National Homeownership Month, the NCUA will host a free webinar to discuss federal government efforts to combat bias in home valuations and increase opportunities for homeownership. The webinar – scheduled for June 21 at 1 p.m. Eastern – will also provide information about relevant resources available for consumers and credit union professionals.

During the webinar, NCUA Financial Literacy and Outreach Program Officer Ashley Gordon will moderate the discussion between a panel of speakers, including:

  1. NCUA Special Assistant to the Executive Director Shameka Sutton;
  2. Federal Financial Institutions Examination Council (FFIEC) Executive Director James Park;
  3. Federal Housing Finance Agency (FHFA) Associate Director for Fair Lending James Wylie; and
  4. Department of Housing and Urban Development (HUD) Deputy Assistant Secretary for Housing Counseling David Berenbaum.

In addition, NCUA Associate Director for the Office of Examination and Insurance Victoria Nahrwold will provide opening remarks.

Credit unions are encouraged to register and attend.

Of note, NCUA and five additional federal regulators – including the FHFA – issued a proposal related to automated valuation models (AVMs) that would implement Dodd-Frank’s four quality control standards for the use of AVMs by mortgage originators and secondary market issuers.

The NCUA, FHFA, CFPB, FDIC, Federal Reserve, and Office of the Comptroller of the Currency stated the NAFCU-supported proposed rule - which was included again on rulemaking agendas released earlier this year - is “designed to ensure the credibility and integrity of models used in real estate valuations.”

NAFCU will review the proposed rule and solicit member feedback. Comments are due to the regulators 60 days after it is published in the Federal Register.

The association will continue to work closely with regulators to advocate for policies that promote sustainable and equitable access to affordable housing and ensure the credit union industry’s best interests in the housing finance system.