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In particular, the proposed rule would implement quality control standards for automated valuation models (AVMs) used by mortgage originators and secondary market issuers in valuing real estate collateral securing mortgage loans. For more information, click here. On June 7, Oregon Governor Tina Kotek signed SB 981 into law.
The proposal would modify the PSR policy to expand access to collateralized capacity, and clarify the terms for accessing and retaining uncollateralized capacity. The report said that low acquisition costs often come coupled with higher interest rates and limited opportunities to refinance. For more information, click here.
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