Thread Options
#1511220 - 02/17/11 02:00 PM AVM and HELOCS
TINKerBell Offline
Power Poster
TINKerBell
Joined: Nov 2006
Posts: 3,231
Tiger's Den!
Can anyone tell me when it was no longer allowable for the Bank to use an AVM to determine the value of the residence for Home Equity loans and lines? Also, can you point me to the regulatory cite? I would appreciate it!
_________________________
The last thing that blew my mind was the wind.

Return to Top
Lending Compliance
#1511447 - 02/17/11 05:27 PM Re: AVM and HELOCS TINKerBell
dulcinea Offline
New Poster
Joined: Jul 2008
Posts: 6
You may be looking for the information in the December 2, 2010 Federal Reserve press release. It is announcing the "Interagency Appraisal and Evaluation Guidelines." There is a discussion regarding AVMs.

http://www.federalreserve.gov/newsevents/press/bcreg/20101222a.htm

Return to Top
#1511448 - 02/17/11 05:29 PM Re: AVM and HELOCS dulcinea
dulcinea Offline
New Poster
Joined: Jul 2008
Posts: 6
I accidentally attached the wrong press release. Try this one.

http://www.federalreserve.gov/newsevents/press/bcreg/20101202a.htm

Return to Top

Moderator:  Andy_Z