Appraising the State of the Appraisal Industry
Tuesday, June 6, 2023, at 1 p.m. CST
Session Description
Overcoming appraisal bias – in which a home’s value is determined by the ethnicity of those who live there – has become an important piece of the Biden Administration’s housing policy. But how and why did it become such a political hot button for regulators and lenders alike? Sally Carothers, President/CEO of TrUnion Appraisal Services, shares the depth her knowledge of the appraisal process and what it can mean to credit union mortgage lenders looking to do the right thing.
This webinar, hosted by ACUMA President Peter Benjamin, CMB, will explore the history of appraisal bias, how it fits into the larger picture of mortgage finance discrimination, how public awareness of the issue grew, and factors that make it a difficult problem to solve. The webinar also looks at what’s being done to move the industry forward, and the potential for conflict between unbiased valuations and a marketplace in which potential buyers may allow bias to influence their decision-making.
How can your credit union protect its members from bias, and how critical a component of enterprise risk management has this issue become? You will find answers to those questions and more during this important ACUMA Fast Track webinar.
- This session will be interactive so come with your questions.
- Open to anyone.
- Session will be recorded.
- By registering for this event, you submit your information to the webinar organizer and sponsor, who will use it to communicate with you regarding this event and their other services.
Speakers
Sally Carothers
President/CEO, TrUnion
Sally Carothers is President/CEO and part owner of TrUnion, an Appraisal Management Company that specializes in managing valuation services for Credit Unions. Sally grew up and was educated in England gaining a bachelor’s degree in Urban Land Management. She is a Fellow of the Royal Institute of Chartered Surveyors. She moved to the US to attend graduate school at the University of Arkansas and still resides in Fayetteville today, Sally has more than 30 years of appraisal experience and is a Certified General Appraiser in Ohio, Arkansas, Illinois, and Nevada.
Sally is an active advocate for the appraisal profession and is involved with various appraiser organizations. She sat on the Industry Advisory Board of the Appraisal Foundation. Sally routinely writes and presents valuation-related topics for appraisers and Credit Unions.
Over the last 2 years, Sally and TrUnion have been at the forefront of providing education and policy for credit unions and appraisers to prevent valuation bias and discrimination. TrUnion actively partners with appraisal firms that promote appraiser diversity and is developing an appraiser diversity scholarship program to encourage greater access to Fair Housing education.
Peter J. Benjamin, CMB
President, ACUMA
Peter J. Benjamin, CMB is the President of the American Credit Union Mortgage Association (ACUMA). A mortgage professional with 20 years of experience, Benjamin has held various positions throughout the mortgage industry including Senior Vice President of Mortgage Lending for Lafayette Federal Credit Union in Rockville, MD. During his time at Lafayette Federal, Benjamin led a high-performing mortgage team that exceeded production and budget goals each year, reduced the Credit Union’s cycle times to the industry-required timeframes; and improved the credit union’s application pull-through rate. As an association, Benjamin wants to see ACUMA members continue to foster the collaborative spirit that has made the association so great and work together to support the American Dream of homeownership. He sees ACUMA as a vital education arm that helps Member Credit Unions gain market share in the mortgage industry.
Atlas Title Company became operational in 2020 as a direct title insurance underwriter—and the first approved in CA in over 25+ years. We were built for the lender and have evolved over the past 3 years to service purchase, commercial and reverse lending transactions. We are now licensed in 34 states and continue to grow with our Credit Union partners. We work with over 15 Credit Unions, nationally, with purchase, refinance, and home equity business. As a direct underwriter, we can set our own pricing which keeps us very competitive, and we also produce our own title policies. Our streamlined settlement processes help clients become more efficient by closing transactions faster AND helps clients save upwards of 30% in title and escrow fees. We look forward to helping you on your next transaction!
