HUD Archives: News Releases

HUD No. 21-037
HUD Public Affairs
(202) 708-0685
For Release
March 8, 2021

JPMorgan Chase allegedly valued a home for less than its worth because of owner's race

WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) announced today that it has approved a Conciliation Agreement between JPMorgan Chase Bank and an African-American woman, resolving the woman's claim that the mortgage lender, relying on an appraisal that she believed was inaccurate, valued her home at an amount lower than its actual worth because of her race. Read the agreement.

"The race of a homeowner and the racial composition of their neighborhood must not influence the valuation of a home," said Jeanine Worden, HUD's Acting Assistant Secretary for Fair Housing and Equal Opportunity. "The Fair Housing Act prohibits the consideration of race as a factor in the appraisal of a home and in the provision of other real estate related services. Discrimination in home buying, mortgage lending, and property appraisal deprives qualified individuals of an equal opportunity to pursue homeownership as a path to family stability and financial security. HUD is committed to ensuring that all housing, whether for rent or for sale, is free from discrimination."

Under the Conciliation Agreement, JPMorgan Chase Bank will pay $50,000 to the woman and provide home lending advisors and client care specialists with mandatory training on the Reconsideration of Value process and fair lending issues related to appraisals, including specifics regarding how to handle complaints of discrimination in the appraisal process.

The Fair Housing Act makes it unlawful to discriminate in the terms, conditions, or privileges of the sale of a dwelling because of race, color, religion, national origin, sex, disability and familial status. The Act also makes it unlawful for any person or other entity whose business includes residential real estate-related transactions to discriminate against any person in making available such a transaction, or in the terms or conditions of such a transaction. Residential real estate-related transactions covered by the Act include making loans secured by residential real estate and appraising residential real property.

People who believe they have experienced discrimination may file a complaint by contacting HUD's Office of Fair Housing and Equal Opportunity at (800) 669-9777 (voice) or (800) 877-8339 (Relay). Housing discrimination complaints may also be filed by going to housing.


HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available at and

You can also connect with HUD on social media or sign up for news alerts on HUD's Email List.

HUD COVID-19 Resources and Fact Sheets


Content Archived: January 1, 2023