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NCUA RIN: 3133-AE23 Publication ID: Fall 2023 
Title: Automated Valuation Models 

The OCC, Federal Reserve Board, FDIC, NCUA, FHFA, and the CFPB issued a proposed rule to implement quality control standards for the use of automated valuation models (AVMs) by mortgage originators and secondary market issuers as part of the process of determining the collateral worth of a mortgage secured by a consumer’s principal dwelling.  The proposed rule would implement the four quality control standards that were mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Under the proposal, institutions would be required to adopt policies, practices, and procedures designed to ensure that AVMs used in covered transactions ensure a high level of confidence in the estimates produced; protect against the manipulation of data; seek to avoid conflicts of interest; and require random sample testing and reviews. The proposal also includes a standard on compliance with nondiscrimination laws. The agencies will review the comments on the proposed rule and consider next steps.

Agency: National Credit Union Administration(NCUA)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 722   
Legal Authority: 12 U.S.C. 1766    12 U.S.C. 1789    12 U.S.C. 3339    12 U.S.C. 3354    15 U.S.C. 1639h   
Legal Deadline:  None
Action Date FR Cite
NPRM  06/21/2023  88 FR 40638   
NPRM Comment Period End  08/21/2023 
Final Action  06/00/2024 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL:  
RIN Data Printed in the FR: No 
Related Agencies: Joint: TREAS/OCC, FRS, FDIC, FHFA, CFPB; 
Agency Contact:
Ariel Pereira
Senior Staff Attorney
National Credit Union Administration
1775 Duke Street,
Alexandria, VA 22314
Phone:703 548-2778
Fax:703 518-6569