Quality Control Standards for Automated Valuation Models
AI Summary
The final rule implements quality control standards for the use of automated valuation models by mortgage originators and secondary market issuers. These standards aim to ensure accurate determination of collateral worth in mortgages secured by a consumer’s principal dwelling.
Texas Relevance
The article does not explicitly mention Texas, TX, TCUD, or any Texas-specific entities. The rule applies nationally to mortgage originators and secondary market issuers.
Original Content
The final rule implements quality control standards for the use of automated valuation models by mortgage originators and secondary market issuers in determining the collateral worth of a mortgage secured by a consumer’s principal dwelling.