HJRES 51 · in committee · significant
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Quality Control Standards for Automated Valuation Models".
- economy
What this bill does
- This resolution blocks a federal rule requiring quality control standards for automated valuation models used in mortgage lending.
- The rule affects mortgage lenders, banks, and agencies that issue mortgages or buy mortgage-backed securities.
- The resolution uses congressional disapproval authority to nullify the rule that was issued in August 2024.
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Community Threads
Started by Cosponsor
- 01
How might removing quality control standards for automated valuation models affect mortgage accuracy and the ability of borrowers to dispute appraisals?
- 02
Which groups—lenders, banks, borrowers, or investors in mortgage-backed securities—would benefit or face increased risk if this rule is blocked?
- 03
What evidence exists that the quality control standards create compliance costs that outweigh potential benefits to mortgage market stability?
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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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