HJRES 49 · in committee · significant
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation 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 valuation models used in mortgage lending.
- The rule affected mortgage lenders, banks, and agencies that use automated systems to assess home values.
- The resolution takes effect immediately upon passage and reverses standards that were published in August 2024.
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Community Threads
Started by Cosponsor
- 01
How might removing quality control standards for automated home valuation models affect mortgage accuracy and borrower protections in lending decisions?
- 02
Which stakeholders—lenders, banks, borrowers, or regulators—would benefit or face risks if these automated valuation safeguards are eliminated?
- 03
What evidence exists that the August 2024 quality control standards created compliance burdens outweighing benefits to the mortgage lending process?
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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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