The National Credit Union Administration issued a letter that called into question the use of automated valuation models. The administration's appraisal rule requires "an appraisal by a state-certified or licensed appraiser for all real estate-related financial transactions," the letter said. "There is a lot of confusion in the marketplace right now thanks to this letter," said the chairman of the Real Estate Information Professionals Association's Collateral Assessment Technologies Committee in an announcement.
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