### Question
How does APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL define automated valuation model?


### Answer
Under *12 U.S.C. § 3354*, **automated valuation model** is defined 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

#### Citation:
  - *12 U.S.C. § 3354*
  - Heading: **CHAPTER 34A-APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL**

