HJRES 51 · 119th Congress — 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".
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…
- Congress
- 119
- Bill
- HJRES 51
- Status
- Introduced
- Introduced
- 2025-02-12
- Latest action date
- 2025-02-12
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.
This summary may describe an earlier version. Check the official record for current wording.
Latest action
Referred to the House Committee on Financial Services.
Sponsors
- Rep. Clyde, Andrew S. [R-GA-9]
Republican · Georgia · House District 9 · Republican