Homeowners, Lender Settle Appraisal Bias Case; Claims Against Appraiser Continue

(April 8, 2024, 9:09 AM EDT) -- BALTIMORE — Homeowners have reached a settlement with a mortgage lender in a suit in a federal court in Maryland alleging that the lender and a property appraiser violated several provisions of the Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA) by undervaluing their home based on their race and by denying a mortgage refinancing application based on that appraisal for an undisclosed amount and a number of policy changes....