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HJRES 48 · in committee · significant

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Board of Governors of the Federal Reserve System relating to "Quality Control Standards for Automated Valuation Models".

What this bill does

  • This resolution cancels a federal rule requiring quality control standards for automated valuation models used in mortgage lending.
  • Mortgage lenders, banks, and other financial institutions that use automated property valuation tools are affected.
  • The rule, issued by six federal agencies in August 2024, is nullified immediately upon passage.

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Community Threads

Started by Cosponsor

  1. 01

    What quality control safeguards would lenders rely on if this rule eliminating automated valuation model standards is repealed?

  2. 02

    How might removing federal oversight of property valuation tools affect mortgage accuracy and borrowing costs for homebuyers?

  3. 03

    Which stakeholders—lenders, borrowers, or regulators—bear the greatest risk if automated valuation models lack federal quality standards?

Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.

Sponsor · R-GA-9

Andrew S. Clyde

Citizen cosponsors

0

In Congress

0/ 435

House Reps cosponsoring

Introduced 2025-02-12

Legislative timeline

  1. 2025-02-12 · house · IntroReferral

    Referred to the House Committee on Financial Services.

  2. 2025-02-12 · IntroReferral

    Introduced in House

  3. 2025-02-12 · IntroReferral

    Introduced in House

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