MISMO Calls for Participants to Join New Work Group Focusing on AVM Standardization

MISMO, the real estate finance industry’s standards organization, announced a call for industry professionals to join a new development work group that focuses on Automated Valuation Model (AVM) standardization.

The AVM development work group will address AVM confidence score meaning, testing framework, and best practices to ensure compliance with non-discrimination laws.

“Creating a suite of MISMO AVM standards will support the industry in communicating risk effectively, therefore improving the quality of risk-based decisions, encouraging AVM adoption among lenders, and assisting with compliance of the recently published Interagency Rule on Quality Control Standards for Automated Valuation Models,” said David Coleman, President of MISMO.

Individuals interested in joining this group who are already MISMO Members may join the Automated Valuation Model Development Workgroup (DWG) collaboration site that has been established on MISMO Connect. Those not already members of MISMO who would like to participate should contact info@mismo.org. The group will hold regular meetings via video conference call.  MISMO’s work to solve key business challenges is made possible by its members, champions, sponsors, and lender support through the Innovation Investment Fee. Visit MISMO.org to learn how you can get involved.