There has been a great deal of press regarding bias in appraisals, including headlines for newspapers and television stations. The topic is being addressed by many entities, from the President to The Appraisal Foundation to Congressional committees to Fannie Mae, Freddie Mac, FHA and VA to professional appraisal associations to individual states. Due to the concerns expressed by some many entities a discussion of the issues is warranted. Bias can be associated with fair housing. The provisions of the 1968 Fair Housing Act remain in effect today, along with additions to the federal act, in 1988, and additional protected classes in Minnesota. Several parts of the USPAP document address fair housing, including AO-16. Real estate professionals need to be reminded about what are considered acceptable procedures, and what is acceptable language, in terms of fair housing. 

Objectives:
• Recognize the impact of housing practices pre-1968: redlining, restrictive covenants, and financing
• Recognize laws and judicial decisions that occurred in the 18th and 19th centuries
• Define bias and related terminology
• Recognize the existence of the 1968 Fair Housing Act
• Recognize changes to the Act
• Recognize MN protected classes
• Understand housing discrimination continues to exist
• Understand how USPAP addresses Bias and Fair Housing
• Understand steps appraisers can take to avoid Bias and Fair Housing accusations and violations

This course has been approved by the Minnesota Department of Commerce for 4.0 hours of Appraiser and Real Estate CE.