Mortgage originators and secondary market issuers use automated valuation models (AVMs) in determining the worth of collateral securing mortgages on consumers’ principal dwellings. As part of the Dodd-Frank Wall Street Reform...more
8/29/2023
/ Appraisal ,
Automated Decision Systems (ADS) ,
Consumer Financial Protection Bureau (CFPB) ,
Data Management ,
Fair Housing Act (FHA) ,
FDIC ,
FHFA ,
Financial Services Industry ,
FIRREA ,
Model Rules ,
Mortgages ,
NCUA ,
OCC ,
Proposed Rules ,
Quality Control Plan ,
Real Estate Financing ,
Truth in Lending Act (TILA) ,
Valuation
Problems with lack of affordability and access to housing are longstanding in the U.S. The CFPB has indicated that “minority households… continue to lack fair and equitable access to credit,” including mortgage lending. These...more