The Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) announced several important changes that will affect the appraisal industry. 

The announcement includes:

  • A proposed rule for quality control of automated valuation models (AVMs),
  • Collaboration between the FHFA and FHA on a new reconsideration of value (ROV) process,
  • Additional data to be released on appraisals and made public later this year, and
  • A dashboard to highlight state-level overlays or barriers to entry for new appraisers.

NAR had urged regulators to look at AVM oversight, a cross-regulator ROV, and expanded data sharing.

Staff will review the proposed rule and respond as appropriate.

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