Posted By: TINKerBell
AVM and HELOCS - 02/17/11 02:00 PM
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!
Posted By: dulcinea
Re: AVM and HELOCS - 02/17/11 05:27 PM
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
Posted By: dulcinea
Re: AVM and HELOCS - 02/17/11 05:29 PM