MBA files amicus brief refuting lender liability in appraisal bias

The Mortgage Bankers Association filed an amicus brief in a lawsuit alleging an appraiser and a lender violated federal law by lowering the valuation of a home because the owners were Black and by denying a mortgage refinancing application based on that low appraisal. The amicus brief seeks to respond to a statement of interest filed by the Consumer Financial Protection Bureau and the Department of Justice. Read on for more details.