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Are there any organizations that provide guidance on the use of AVMs?

Yes, there are several organizations that provide guidance on the use of Automated Valuation Models (AVMs) in the United States. These organizations help ensure that AVMs are used in a fair and transparent manner, and they provide resources and information to help organizations using AVMs understand and comply with all relevant regulations and laws.

Some of the organizations that provide guidance on the use of AVMs include:

  1. Appraisal Institute: The Appraisal Institute is a professional organization for real estate appraisers, and it provides guidance and resources on the use of AVMs and other appraisal-related topics.

  2. Mortgage Bankers Association: The Mortgage Bankers Association is a trade organization for the mortgage industry, and it provides guidance and resources on the use of AVMs and other mortgage-related topics.

  3. American Society of Appraisers: The American Society of Appraisers is a professional organization for appraisers in all industries, and it provides guidance and resources on the use of AVMs and other appraisal-related topics.

  4. Consumer Financial Protection Bureau (CFPB): The CFPB is a federal agency that is responsible for enforcing consumer financial protection laws, and it provides guidance and resources on the use of AVMs and other financial-related topics.

These organizations are just a few examples of the many organizations that provide guidance on the use of AVMs. By working with these organizations, organizations using AVMs can ensure that they are using AVMs in a fair and transparent manner, and they can stay up-to-date on the latest developments and best practices in the use of AVMs.

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