On June 1, 2023, the National Credit Union Administration (NCUA), along with other federal banking and housing agencies (collectively the Agencies), issued a joint notice of proposed rulemaking (NPRM) to implement the quality control standards mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) for the use of automated valuation models (AVMs) by mortgage originators and secondary market issuers in determining the collateral worth of a mortgage secured by a consumer’s principal dwelling.
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