The banking agencies set a comment deadline of August 21, 2023 for a proposed to require mortgage originators and secondary market issuers to ensure that "automated valuation models used in certain credit decisions or covered securitization determinations adhere to quality control standards."
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Banking agencies proposed a rule that would require mortgage originators and secondary market issuers to "adopt policies, practices, procedures, and control systems to ensure that automated valuation models used in certain credit decisions or covered securitization determinations adhere to quality control standards."
The Board of Governors of the Federal Reserve System proposed amending Regulation M, which was issued to implement the Consumer Leasing Act.
The Board of Governors of the Federal Reserve Board repealed certain Home Mortgage Disclosure regulations (Regulation C) which have been superseded by rules adopted by the CFPB.