Which federal laws prohibit discrimination in appraisals related to race and ethnicity?

The correct answer identifies the Federal Housing Act and the Equal Credit Opportunity Act as the federal laws that prohibit discrimination in appraisals based on race and ethnicity.

The Federal Housing Act (also known as the Fair Housing Act) aims to eliminate discrimination in housing practices, which includes the appraisal process. This law ensures that individuals are protected from discriminatory practices that may affect their ability to purchase or rent housing based on race, color, religion, sex, national origin, familial status, and disability.

Similarly, the Equal Credit Opportunity Act prohibits discrimination in lending practices, which extends to appraisal processes. It ensures that all consumers are given fair treatment regardless of race, ethnicity, or other protected characteristics when seeking credit, including when their properties are appraised as part of the lending process.

Both laws work in concert to ensure fair treatment in housing-related transactions, making them pivotal in preventing discrimination in appraisals specifically related to race and ethnicity. The other options mentioned involve laws that either do not focus specifically on race and ethnicity in relation to appraisals or do not have the same level of impact on housing and credit discrimination.