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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Apr 15, 2021.
Real Estate Valuation Fairness and Improvement Act of 2021
This bill establishes the Interagency Task Force on Real Estate Valuation to harmonize among specified agencies and entities the underwriting standards that govern residential and commercial real estate valuations. The task force must also study racial disparities in the valuation and price of certain residential real estate.
The bill also establishes a grant program for states, nonprofit organizations, and institutions of higher education to promote diversity and inclusion in the appraisal profession.