HJRES 51
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".
Summary
This joint resolution nullifies the final rule issued by the Office of the Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Consumer Financial Protection Bureau, and the Federal Housing Finance Agency titled Quality Control Standards for Automated Valuation Models and published on August 7, 2024. The rule requires the implementation of quality control standards for automated valuation models used by mortgage originators and secondary market issuers when determining the value of real estate securing a mortgage.
Bill status
- Status
- In committee
- Sponsor
- Rep. Andrew S. Clyde [R-GA-9]
- Cosponsors
- 0
- Policy area
- Finance and Financial Sector
- Introduced
- 2025-02-12
- Latest action
- 2025-02-12: Referred to the House Committee on Financial Services.
Committee referrals
Recent actions
- 2025-02-12: Referred to the House Committee on Financial Services.
- 2025-02-12: Introduced in House
- 2025-02-12: Introduced in House