The Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) is dedicated to ending bias in home valuation. PAVE is comprised of 13 federal agencies and is co-led by US Department of Housing and Urban Development Sec. Marcia Fudge and White House Domestic Policy Council Advisor Susan Rice.
President Biden’s Directive
President Biden announced the launch of an interagency initiative to combat bias in home appraisals on June 1, 2021- the 100th anniversary of the Tulsa Race Massacre.
The Task Force was directed to:
evaluate the causes, extent, and consequences of appraisal bias and
establish a transformative set of recommendations to root out racial
and ethnic bias in home valuations.
PAVE's Action Plan
On March 23, 2022, the Biden-Harris Administration released its Action Plan to Advance Property
Appraisal and Valuation Equity, a blueprint to help Americans benefit fairly from the equity built through home ownership. The PAVE Action Plan:
outlines the historical role of racism in the valuation of residential property;
examines the various forms of bias that can appear in residential property valuation practices; and
describes how government and industry stakeholders will advance equity through concrete actions and recommendations.