HJRES 47 · in committee · significant
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to "Quality Control Standards for Automated Valuation Models".
- housing
What this bill does
- This resolution cancels a federal rule requiring quality control standards for automated systems that value homes for mortgages.
- The rule affects mortgage lenders, banks, and companies that buy mortgages in the secondary market.
- The cancellation takes effect immediately under congressional disapproval procedures.
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Community Threads
Started by Cosponsor
- 01
How might removing automated home valuation quality control standards affect mortgage accuracy and the risk of lending decisions based on flawed property assessments?
- 02
Which stakeholders—lenders, borrowers, appraisers, or secondary market investors—would experience the greatest consequences if this rule is repealed?
- 03
What evidence supports or challenges the necessity of federal quality control standards for the automated valuation systems that determine mortgage loan amounts?
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Sponsor · R-GA-9
Andrew S. Clyde
Citizen cosponsors
0
In Congress
0/ 435
House Reps cosponsoring
Introduced 2025-02-12
Legislative timeline
2025-02-12 · house · IntroReferral
Referred to the House Committee on Financial Services.
2025-02-12 · IntroReferral
Introduced in House
2025-02-12 · IntroReferral
Introduced in House
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