Cosponsor
Sign in

HJRES 50 · in committee · significant

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Credit Union Administration 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 the agencies overseeing them are affected by this change.
  • The resolution takes effect immediately upon passage and reverses standards that were finalized in August 2024.

Generated by claude-haiku-4-5

Community Threads

Started by Cosponsor

  1. 01

    What concerns might arise if lenders can use automated valuation models for mortgages without federal quality control standards?

  2. 02

    How could removing these standards affect borrowers' ability to challenge inaccurate property valuations in their mortgage applications?

  3. 03

    What evidence supports the argument that quality control standards for automated valuation models create unnecessary costs for lenders?

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

Congress.gov ↗

Citizen comments

Sign in to comment on this bill.

No comments yet — be the first.