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 FDIC provided a list of forward-looking credit metrics that banks should monitor as part of an effective credit management information system.
An FDIC Credit and Consumer Products Survey suggests that risk is increasing in the industry, "as reflected by more frequent reports of credit concentrations, increases in potentially volatile funding sources, and more out-of-area lending."