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Federal agencies seek input on proposed AVM credibility, integrity rule

Housing Wire

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” And the design and development of the models and algorithms can reflect the biases and blind spots of the developers.”

Valuation 393
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FinLocker raises $17M in Series B funding round

Housing Wire

Louis-based developer of a leading white-label financial fitness and homeownership platform, announced the closure of a $17 million Series B funding round on Tuesday. In addition to product development, FinLocker (a former HousingWire Tech 100 winner) plans to expand its strategic partnerships and collaborations within the mortgage ecosystem.

Tools 422
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Collateral Risk Network Names Jeremy Staudenmaier 2022 Valuation Visionary

Appraisal Buzz

The Collateral Risk Network (CRN) announced today that Jeremy Staudenmaier, director of product management at ACI , a leading provider of workflow solutions for the valuation industry for nearly 40 years and a member of the First American family of companies, has been chosen as the CRN 2022 Valuation Visionary.

Valuation 195
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Going to Extremes

Appraisal Buzz

I recently attended the Going to Extremes conference in DC on April 18-19, which focused on how climate change is affecting the US housing and finance industries. ICON, an Austin based firm, has developed a 3D printed wall system. Areas more exposed to such risk are likely to see increased volatility in valuations.”

HOA 370
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CFPB spring agenda aims to tackle AVMs, overdraft fees, FCRA and more

Housing Wire

Department of Housing and Urban Development (HUD), the regulator’s agenda will address issues relevant to the housing industry. At the top of the list of housing issues the Bureau will aim to address is a rule related to automated valuation models (AVMs). While only a fraction of the total items on the agenda for the U.S.

Valuation 370
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Trade groups warn of “unintended consequences” from proposed AVM rules

Housing Wire

The Mortgage Bankers Association (MBA) and the Consumer Bankers Association (CBA) sent a letter to regulators on Monday warning of the “unintended consequences” of new quality control standards for automated valuation models (AVMs). the trade groups state. Department of the Treasury ; and the Federal Reserve System.

Valuation 370
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White House marks one year of PAVE appraisal bias action plan

Housing Wire

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. HUD also announced this week that it had awarded $54 million in grants across 42 states designed to curb appraisal bias.

Appraisal 382