MBA Letter to CFPB on AVM Quality Control Standards
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The Mortgage Bankers Association (MBA) thanks to the Consumer Financial Protection Bureau (CFPB, or “the Bureau”) for its consideration of industry feedback on the proposals and considerations developed with the small business review panel convened regarding Automated Valuation Models (AVMs). Greater industry adoption of AVMs holds potential to modernize and improve the valuation process, and MBA looks forward to working in partnership with the CFPB and other regulators on this crucial step in the lending process.
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