1557-AD87 201410 The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions 1557 Comptroller of the Currency OCC 1500 Department of the Treasury TREAS Automated Valuation Models

The OCC, FRB, FDIC, NCUA, FHFA and CFPB, in consultation with the Appraisal Subcommittee and the Appraisal Standards Board of the Appraisal Foundation, are required to promulgate regulations to implement quality control standards required for automated valuation models. Section 1473(q) of the Dodd-Frank Act requires that automated valuation models used to estimate collateral value for mortgage lending comply with quality control standards designed to: ensure a high level of confidence in the estimates produced by automated valuation models; protect against manipulation of data; seek to avoid conflicts of interest; require random sample testing and reviews and account for other factors the agencies deem appropriate. The agencies plan to issue a proposed rule to implement the requirement for quality control standards.

]]> Substantive, Nonsignificant First Time Published in The Unified Agenda Long-Term Actions Undetermined Undetermined 12 CFR 34 12 CFR 164 12 USC 1 et seq 12 USC 25b 12 USC 29 12 USC 93a 12 USC 371 12 USC 1462 through 462a 12 USC 1463 through 1464 12 USC 1465 12 USC 1701j-3 12 USC 1828o 12 USC 3331 et seq 12 USC 5101 et seq 12 USC 5412(b)(2)(B) 15 USC 1639h 12 USC 1828(m) No NPRM 12/00/2015 Undetermined Undetermined Undetermined Undetermined No No Mitchell Plave Special Counsel 1557 Comptroller of the Currency OCC 202 649-6285 mitchell.plave@occ.treas.gov Chief Counsel's Office, 400 7th Street SW, Washington DC 20219