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New Rules Dodd-Frank Wall Street Reform and Consumer Protection Act Mortgage Lenders

Goodwin

CFPB Issues New Rule on Use of Artificial Intelligence Models in Mortgage Lending

Goodwin on

​​​​​​​On June 24, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had approved a new rule about the use of algorithms and artificial intelligence (AI) for home appraisals and valuations....more

Ballard Spahr LLP

Federal Agencies Issue Final Automated Valuation Model Quality Control Rule

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Federal banking regulators recently began adopting a final rule that requires, among other things, supervised mortgage originators and secondary market issuers to ensure that automated valuation models they use follow quality...more

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