OCC Approves Final Rule on Automated Valuation Models

WASHINGTON—The Office of the Comptroller of the Currency today approved a final rule to implement quality control standards for automated valuation models used by mortgage originators and secondary market issuers in valuing residential real estate collateral securing mortgage loans.

The rulemaking supports Acting Comptroller of the Currency Michael J. Hsu’s priority to reduce inequality and elevate fairness in banking.

Related Link

• Final Rule (PDF)