NAFCU-sought items for CECL, FOM, more on spring reg agendas
Administrative agencies – including the NCUA and CFPB – have released their spring regulatory agendas, which feature several items that NAFCU has been advocating for, as well as others that have already been introduced or included on previous rulemaking agendas. In a new insights post on NAFCU’s Compliance, Risk & BSA Network and ONES + CFPB Supervision Network, NAFCU Director of Regulatory Affairs Ann Kossachev provided a comprehensive summary of the agendas.
Here’s a look at some items of note included in the agencies’ agendas:
Automated Valuation Models (AVMs): Later this year, the agency is set to issue a proposed rule that would implement the Dodd-Frank Act’s four quality control standards for the use of AVMs by mortgage originators and secondary market issuers as part of the process of determining the collateral worth of a mortgage secured by a principal dwelling. The proposed rule would be in coordination with the CFPB, FHFA and other agencies.
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