The U.S. Department of Housing and Urban Development (HUD) recently convened a virtual Property Appraisal and Valuation Equity (PAVE) philanthropic roundtable discussion on innovative strategies to address appraisal bias. Leadership from The Brookings Institution and Ashoka unveiled new research on the topic of appraisal bias and announced the winners of their Economic Architecture Challenge, HUD announced in a release.

Philanthropic leaders participated in the roundtable to discuss the critical role philanthropic partners play in addressing appraisal bias.

HUD Secretary Marcia Fudge said the roundtable was the latest step in the administration’s commitment to work with and engage philanthropy in addressing inequities in property appraisal and valuation.

Melody Taylor, executive director of the PAVE Task Force, said “the March release of the PAVE Action Plan made clear the federal government’s commitment toward addressing the persistent racial wealth and homeownership gaps.”

During the meeting, attendees engaged in conversations on key issues, including research gaps, consumer education and actions to increase diversity in the appraisal workforce, according to the release.

The group also discussed how philanthropic partners can work more closely with HUD and the White House Domestic Policy Council to further the mission. The group closed the meeting with a strategy discussion on how best to collaborate to advance equity in the appraisal and homebuying process.

In addition to Fudge and Taylor, the list of speakers during the open session included Erika Poethig, special assistant to the president for Housing and Urban Policy at The White House Domestic Policy Council; Mark O’Donovan, chief executive officer of Chase Home Lending; Andre Perry, senior fellow at The Brookings Institution; Stuart Yasgur, vice president and Global Leadership Group member of Ashoka; and Mia Bailey, international and philanthropic affairs at HUD.