Racist Appraisals... or Racist Lending, again.
Recent accusations of racism in appraising have brought to light increasingly questionable lending practices as records have become public. As non-regulated lenders engage in "debt traps," "affinity scams" and "churning" in minority neighborhoods, they attempt to blame their fraudulent behavior away by blaming the appraiser. As markets around the country turn negative this "churning" strategy will hit the wall first, with these sub-prime mortgages turning negative and causing severe stress to borrowers.
Read more here: https://appraisersblogs.com/appraiser-bias-allegations-unmask-nonbank-lenders-debt-traps