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#1511220 - 02/17/11 02:00 PM AVM and HELOCS
TINKerBell Offline
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TINKerBell
Joined: Nov 2006
Posts: 3,255
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!
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Lending Compliance
#1511447 - 02/17/11 05:27 PM Re: AVM and HELOCS TINKerBell
dulcinea Offline
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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

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

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

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