12 U.S.C. § 3354
Automated valuation models used to estimate collateral value for mortgage lending purposes
United States · Title 12 — BANKS AND BANKING · Status: effective
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- Citation
- 12 U.S.C. § 3354, Automated valuation models used to estimate collateral value for mortgage lending purposes, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/438531
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Full text
Automated valuation models shall adhere to quality control standards designed to—
The Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration Board, the Federal Housing Finance Agency, and the Bureau of Consumer Financial Protection, in consultation with the staff of the Appraisal Subcommittee and the Appraisal Standards Board of the Appraisal Foundation, shall promulgate regulations to implement the quality control standards required under this section.
Compliance with regulations issued under this subsection shall be enforced by—
For purposes of this section, the term “automated valuation model” means any computerized model used by mortgage originators and secondary market issuers to determine the collateral worth of a mortgage secured by a consumer’s principal dwelling.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Financial Institutions Reform, Recovery, and Enforcement Act of 1989House: no recorded tallySenate: no recorded tally
- Dodd-Frank Wall Street Reform and Consumer Protection Act