Craig Steinley, the vice president of the Appraisal Institute, has been accused of sexual harassment by 12 current and former employees of the trade group.
An expose published Thursday by The New York Times surfaced the allegations against Steinley, who is also a former president of the institute. The accusations from multiple women range from lude comments about their bodies to groping.
The women say they took their claims directly to the organization, which in one instance reportedly paid an alleged victim $412,000 to settle the matter. According to the Times, at least seven other women took complaints to the institute. Steinley has denied the allegations.
In a statement provided to HousingWire, the trade group said it acknowledges the seriousness of the allegations and will conduct a “thorough” investigation into the matter.
“This article does not represent who the Appraisal Institute is,” the statement reads. “The Appraisal Institute is committed to a safe and respectful environment for all our employees and members, and nothing short of that is OK. We have policies that prohibit — and are there to ensure we promptly address any reports of — discrimination, harassment or retaliation.”
One woman told the Times that Steinley earned the nickname “Mr. Handsy” for hugs that lasted too long, unwanted touching and groping buttocks.
Cindy Chance, the former CEO of AI who was unceremoniously fired in September 2024 roughly a year after she was hired, approved the settlement payment given to the accuser.
“[Steinley] manipulates and controls people through sexual harassment,” Chance told the Times, adding that Steinley often referred to her as his “girlfriend.”
The accusations against Steinley are only one of the problems facing the Appraisal Institute.
Appraisers across the country have soured on the trade group, claiming that it does not represent the best interests of the profession. They also say the institute too often capitulates to appraisal management companies (AMCs), which serve as intermediaries between appraisers and mortgage lenders and are often viewed as suffocating to the profession.
In a video posted to her YouTube channel hours after the Times piece published, Chance said she believes she was fired from the institute for attempting to change the dynamic between appraisers and AMCs.
“I know many of you suspect that my firing was connected to that advocacy, and I have to tell you I agree,” she said. “I think your instincts were right. What I saw behind the scenes was really disturbing to me.”
Chance is suing the trade group for wrongful termination, as is Alissa Akins, a former director there. Akins claims she was fired after uncovering discrepancies in the results of appraisal examinations, which erroneously gave passing grades to aspiring appraisers who actually failed, and vice versa.
Akins said that days after she reported the issue and recommended action to correct it, Steinley canceled a work trip she was scheduled to attend, which she believes was “punitive.” She claims that another executive recommended she drop the matter because Steinley “will make it hell for you as long as you stay.”
The discontent with the institute has prompted a collection of appraisers to launch an alternative trade group, the Appraisal Regulation Compliance Council. Multiple class-action lawsuits have been filed against different AMCs.
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