Automated valuation model definition

Automated valuation model means an automated system that
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Automated valuation model means a computer software program that analyzes data using an automated process, such as regression, adaptive estimation, neural network, expert reasoning, or artificial intelligence programs, that produces an output that may become a basis for appraisal or appraisal review if the appraiser believes the output to be credible for use in a specific assignment.
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Automated valuation model. A statistical mood or algorithm that estimates the market value of the subject property as of a particular date.
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Examples of Automated valuation model in a sentence

  • As used in thisparagraph (i):(i) Automated valuation model means any computerized model used by mortgage originators and secondary market issuers to determine the value of a consumer’s principal dwelling collateralizing a mortgage.

  • Applicants are expected to discuss, understand, and comply with all aspects of this RFA.

  • Automated valuation model The Dodd-Frank Act defines an AVM, for purposes of section 1125, as “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.”36 The proposed rule would define an AVM as any computerized model used by mortgage originators and secondary market issuers to determine the value of a consumer’s principal dwelling collateralizing a mortgage.

  • NOTE: Automated valuation model estimates from Zillow and similar sources will be given no weight due to inherent inaccuracies which significantly reduce their credibility.

  • Automated valuation model (AVM)” means a mathematically based computer software program that produces an estimate of market value based on market analysis of location, market conditions, and real estate characteristics from information that was previously and separately collected.(j) “Board” means the West Virginia Real Estate Appraiser Licensing and Certification Board established under the provisions of §30-38-1 et seq.


More Definitions of Automated valuation model

Automated valuation model means an automated system that is used to derive a property value through the use of publicly available property records and various analytic methodologies such as comparable sales prices, home characteristics, and historical home price appreciations.
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Automated valuation model means an automated system that is used to
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Automated valuation model means any computerized model used bymortgage originators and secondary market issuers to determine the value of a consumer’s principal dwelling collateralizing a mortgage.
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Automated valuation model means, with respect to any Property, a service that assesses the value of such Property, as determined pursuant to the Underwriting Guidelines.
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Automated valuation model means an automated system that is used to derive a property value through the use of publicly available property records and various analytic methodologies such as comparable sales prices, home characteristics, and historical home price appreciations.(Source: P.A. 96-844, eff. 12-23-09; 97-602, eff. 8-26-11.)(225 ILCS 458/5-10)(Section scheduled to be repealed on January 1, 2022)Sec. 5-10. Application for State certified general real estate appraiser.
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Automated valuation model means a computer software program that analyzes data using an automated process, such as regression, adaptive estimation, neural network, expert reasoning, or artificial intelligence programs, that produces an output that may become a basis for appraisal or appraisal review
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Automated valuation model means a computer software program that analyzes data using an automated process, such as regression, adaptive estimation, neural network, expert reasoning, or artificial intelligence programs, that produces an output that may become a basis for appraisal or appraisal review if the appraiser believes the output to be credible for use in a specific assignment.80Effective date The requirement for the Real Estate Appraisal Board to adopt rules related to the Appraisal Management Company Law becomes effective immediately. The remainder of the bill's provisions takes effect six months after the effective date.81 HISTORY ACTIONDATEIntroduced05-09-17Reported, H. Civil Justice06-08-17Passed House (87-8)06-21-17 H0213-PH-132.docx/emr
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