“By tearing down these onerous hurdles, we’re freeing professionals from a tangle of red tape that drove up costs, inhibited access to homeownership, and discouraged market participation,” Turner said in a press release. “Under President Trump’s leadership, the Biden-era’s obsession with DEI and overregulation is over.”
Among the rescinded policies are: Appraisal Fair Housing Compliance and Updated General Appraiser Requirements (ML 2021-27), Appraisal Review and Reconsideration of Value (ROV) (ML 2024-07), and Extension to the Effective Date of ROV Updates (ML 2024-16).
These directives had required lenders and appraisers to apply new anti-discrimination guidance, enhance reconsideration of value processes, and expand appraisal reviews under fair housing rules.
Clark framed the action as a correction of what he described as misguided policy.
“Wokeism at HUD was brass-tacks economic policy that snatched away the American Dream of homeownership from an entire generation. That ends today.”