Six U.S. regulators recently approved a final rule mandating quality control standards for automated valuation models (AVM) used by mortgage originators and secondary market issuers. This rule aims to enhance transparency and accuracy in the mortgage industry by ensuring AVMs meet certain standards.
Key points:
– Six U.S. regulators have approved a final rule requiring quality control standards for AVMs.
– Mortgage originators and secondary market issuers are mandated to comply with these standards.
– The goal of the rule is to improve transparency and accuracy in the mortgage industry.
You can read this full article at: https://www.housingwire.com/articles/regulators-give-green-light-to-final-avm-rules/(subscription required)
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