Comment Detail

Comment

Dear FHFA Colleagues:
AVMetrics is pleased to see the FHFA’s deep interest in appraisal-related policies, particularly where they involve Automated Valuation Models and Appraisal Waivers. AVMetrics’ primary focus is the independent testing and measurement of AVMs for use in residential housing. Our sincere hope is that AVMs can be employed thoughtfully, carefully and judiciously in order that they can effectively support a safe, sound and stabile housing sector.
AVMetrics was founded in 2005 by Lee Kennedy after twenty years of appraisal analytics and risk management background. The company’s primary mission is to improve the safe and sound use of Automated Valuation Models and other Alternative Valuation Products within the housing finance industry. Lee Kennedy continues to be an active member of the Collateral Risk Network (CRN), The Appraisal Foundation’s Industry Advisory Council (IAC) and subcommittee member for AVM Quality Control Standards among other valuation industry activities.
The following attachments include an executive summary and AVMetrics’ responses to selected questions from FHFA’s December 28, 2020 Request for Information on which we have subject matter expertise.

Sincerely,

Lee Kennedy, Managing Director
AVMetrics, LLC