MBA Advocacy Update Aug. 28: MBA Responds to Interagency Proposed Rule on AVM Quality Control Standards 

MBA Responds to Interagency Proposed Rule on AVM Quality Control Standards

Last Monday, MBA responded to a proposed rule issued on June 1st by six federal agencies seeking to implement quality control standards for automated valuation models (AVMs). In its feedback, MBA reiterated its position that rooting out discrimination in home valuations must remain a priority, but that lenders cannot be held vicariously liable on fair lending grounds for the actions or inputs of an independent third party – such as an appraiser or AVM. MBA also encouraged the GSEs to publicly release their loan-level appraisal datasets and cautioned that an overly burdensome or opaque regulatory scheme risks discouraging AVM use altogether – especially among smaller lenders. The Consumer Bankers Association joined MBA in its response.

• Why it matters: AVMs hold great promise as an opportunity to alleviate appraiser shortages, minimize bias, and reduce transaction costs. However, clear rules of the road are necessary. Any new quality control regime for AVMs must be well understood and reasonable to implement and enforce.
• What’s next: MBA will continue to engage with federal policymakers to develop a principles-based quality control approach that reduces bias, improves accuracy, and is practicable for AVM users of all sizes and business models.

For more information, please contact Matt Jones at (202) 557-2933.

Get Involved – MBA Advocacy Month Kicks Off in September

Join MBA’s Legislative and Political Affairs (LPA) team in September for MBA Advocacy Month, an all-member campaign focused on raising awareness on the top single-family and commercial/multifamily issues that can help produce positive policy changes at the national level.

• Why it matters: Throughout September, MBA will work with members to engage with their employees and help run impactful Mortgage Action Alliance (MAA) and MORPAC campaigns. In addition, MBA staff will host virtual events, including legislative townhalls and webinars with a focus on how members can make their voices more effectively and better heard.
• What’s next: If interested in learning more and how to get involved, visit

For more information, please contact Jamey Lynch, AMP at (202) 557-2818.

Upcoming MBA Education Webinars on Critical Industry Issues

MBA Education continues to deliver timely programming that covers the spectrum of
challenges, obstacles and solutions pertaining to our industry. Below, please see a list of
upcoming webinars – which are complimentary to MBA members:

• Navigating the Obstacles in Multifamily Housing: Perspectives from the Affordable Rental Housing Advisory Council – August 29
• Recent LO Comp Enforcement and Supervisory Activity – September 7
• Succeeding Today and Tomorrow: Tech Tools That Can Drive More Market Share – September 7
• Optimizing Technology in the Origination Process – September 12
• Budgeting and Financial Planning for Non-Believers – September 13
• Section 1071: A Practical Approach to Unpacking the CFPB’s Final Rule – September 13

MBA members can register for any of the above events and view recent webinar recordings.

For more information, please contact David Upbin at (202) 557-2931.