On October 18th FHFA Acting Director Sandra L. Thompson announced that the temporary use of desktop appraisals, adopted during the Covid-19 crisis, would become an established option. The FHFA is also considering the risks and benefits of the increased use of appraisal waivers, up more than 6.9 times the average level in 2018, as it continues to modernize the appraisal process. Additionally, the FHFA requested industry input on the risks posed by increased use of waivers and automated valuation models (AVMs) and comments on how expanded AVM use could impact racial bias in property valuations. Modernization of the appraisal process is included in the 2022 FHFA Scorecard, which holds the Enterprises "accountable for fulfilling their core mission requirements by promoting sustainable and equitable access to affordable housing and operating in a safe and sound manner."

The goal of the QM VSH Scope of Review is to create a uniform best practice testing standard to be utilized across TPR firms. The primary focus of this initial version of SFA’s TPR Scope of Review for QM VSH is to document the best practice approaches used by clients utilizing a TPR firm to perform due diligence on General QM loans under the new rule effective March 1, 2021.. As appropriate, SFA and its members will continue to work with the CFPB toward the goal of receiving formal regulatory guidance for the benefit of the consumer, primary, and secondary mortgage markets. To that end, there may be shifts in the requirements should there be future CFPB rulemakings or formal guidance, or market developments.