Biden admin to ramp up regulations on computerized appraisals over bias/racism concerns

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Biden admin to ramp up regulations on computerized appraisals over bias/racism concerns
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U.S. regulators are eyeing new rules aimed at preventing 'algorithmic bias' in automated valuation models used for appraisals

Chicago-based Senior Broker Associate Kathy Menighan Wilson speaks with FOX Business' Grady Trimble about what buyers and experts can do to make sure there deals do not fall through.are looking to ramp up oversight of automated valuation models used for home appraisals, voicing concerns that the algorithms used could carry risks of bias just like a human appraiser.

A"For Sale" sign stands in front of a home that is in the process of being sold in Monroe, Wash., outside of Seattle.

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