*The U.S. Department of Housing and Urban Development (HUD) announced today that it has charged several entities with housing discrimination for issuing a biased appraisal and subsequently denying a refinance loan application in Denver, Colorado. The entities charged include appraiser Maksym Mykhailyna, appraisal company Maverick Appraisal Group, appraisal management company Solidifi U.S. Inc., and lender Rocket Mortgage, LLC.
According to HUD’s Charge, the appraiser, Maksym Mykhailyna, is accused of undervaluing a Black homeowner’s property based on her race. This undervaluation led to the homeowner’s refinance loan application being denied. When the homeowner raised concerns about the discriminatory appraisal, Rocket Mortgage allegedly insisted on proceeding with her application based solely on the disputed appraisal value.
The Fair Housing Act prohibits discrimination in real estate-related transactions, including appraisals, on the basis of race. It also protects individuals from retaliation when they exercise their fair housing rights, such as reporting instances of discrimination. HUD’s Charge highlights the importance of ensuring fair treatment in housing transactions and holding entities accountable for discriminatory practices.
This case underscores the ongoing challenges faced by minority homeowners in obtaining fair appraisals and accessing refinancing options. HUD’s action aims to address these inequities and reinforce the principles of the Fair Housing Act, ensuring that all individuals receive equal treatment in housing-related matters.
For more details, you can read the full Charge on HUD’s official website, HERE.
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