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Real Estate Valuation Task Force
The Real Estate Valuation Task Force Act (20 ILCS 4113) was created pursuant to Public Act 102-934, to directly address discrimination in valuation of real estate and underwriting of loans in racially diverse or ethnic communities.
The Task Force is set to identify racial disparities in the valuation of the real estate used for underwriting loans, and the causes of those disparities. As a result, it is specifically charged with conducting an analysis of collateral underwriting standards; standards of appraisals and alternative evaluations such as automated valuation models; procedures for reconsiderations of value by consumers; and guidance related to collateral underwriting challenges, such as energy efficient housing and limited or inactive markets.
The Task Force is also asked to evaluate the barriers of entry into the appraisal profession.
The Task Force shall publish a report of its findings and recommended actions to the Governor and General Assembly by January 1, 2025.
For any inquiries, please contact Tia Davis, Tia.N.Davis@illinois.gov
Member Appointments
Chairperson: TBD
Vice Chairperson: TBD
IDFPR Secretary or Designee: Ericka Johnson, Deputy Secretary, IDFPR
Speaker of the House of Representatives: Asst. Maj. Leader Representative Marcus Evans
Minority Leader of the House of Representatives: Dan Hofacker, Managing Director at JPMorgan Chase
President of the Senate: TBD
Minority Leader of the Senate: Jeffrey Baker, CEO, Illinois Realtors
Director of Commerce & Economic Opportunity or Designee: Tito G. Quinones, Deputy Director, Office of Legislative Affairs, DCEO
Director of Human Rights or Designee: Steven Monroy, Director of Fair Housing, IDHR
Director of Revenue or Designee: Adrianne Suits Bailey, Manager of the Property Tax Division, IDOR
Executive Director of the Housing Development Authority or Designee: Javier Gumucio, Director of Homeownership Department, IHDA
Statewide banking association representing banks of all asset sizes: Ashia Walker, Community Development Senior Financial Analyst, CIBC Bank USA
Statewide banking association representing banks with assets below 20 billion: Jamie Cumbie, Vice President of Lending at MidAmerica National Bank
Statewide association representing credit unions: Deborah Fears, President/CEO of the Chicago Post Office Employees Credit Union
Advocate for Fair Housing: Anthony E. Simpkins, President/CEO of Neighborhood Housing Services of Chicago
Advocate for Consumer Protection: Cassandra Halm, Deputy Bureau Chief of the Consumer Fraud Bureau, Illinois Attorney General’s Office
Statewide Appraisal Organization: Paul D. Brown, Real Estate Appraiser, Senior Instructor, Eastern Illinois University