automated valuation model
Defined in 1 place of the United States Code.
For purposes of this section, the term “automated valuation model” means any computerized model used by mortgage originators and secondary market issuers to determine the collateral worth of a mortgage secured by a consumer's principal dwelling.
Source
- 2010–present12 U.S.C. § 3354Banks and Banking · Automated valuation models used to estimate collateral value for mortgage lending purposes · for purposes of this section