12 CFR 722.203

§ 722.203 Quality control standards.

United States · 12 CFR — Banks and Banking · Status: effective

Cite this

Citation: 12 CFR 722.203, § 722.203 Quality control standards, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48679
Permanent ID: ys:prov:48679@1
SHA-256: 0ea501401d5ca7296efbb698c74ab15d09f657d90dda1129c9f49049ab88badd

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Full text

Mortgage originators and secondary market issuers that engage in credit decisions or covered securitization determinations themselves, or through or in cooperation with a third-party or affiliate, must adopt and maintain policies, practices, procedures, and control systems to ensure that automated valuation models used in these transactions adhere to quality control standards designed to: (a) Ensure a high level of confidence in the estimates produced; (b) Protect against the manipulation of data; (c) Seek to avoid conflicts of interest; (d) Require random sample testing and reviews; and (e) Comply with applicable nondiscrimination laws.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.