Counsel

1557-AD87 201504 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 enumerate quality control standards 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 Previously Published in The Unified Agenda Proposed Rule Stage Undetermined Undetermined 12 CFR 34 12 CFR 164 12 U.S.C. 1 et seq 12 U.S.C. 25b 12 U.S.C. 29 12 U.S.C. 93a 12 U.S.C. 371 12 U.S.C. 1462a 12 U.S.C. 1463 12 U.S.C. 1464 12 U.S.C. 1465 12 U.S.C. 1701j-3 12 U.S.C. 1828o 12 U.S.C. 3331 et seq 12 U.S.C. 5101 et seq 12 U.S.C. 5412(b)(2)(B) 15 U.S.C. 1639h 12 U.S.C. 1828(m) No NPRM 12/00/2015 Undetermined Undetermined Undetermined No No No Beth Knickerbocker Counsel 1557 Comptroller of the Currency OCC 202 649-7820 beth.knickerbocker@occ.treas.gov Legislative & Regulatory Activities Division, 400 7th Street, SW., Washington DC 20219