Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to "Quality Control Standards for Automated Valuation Models".
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Feb 12, 2025)
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.
What just happenedFeb 12, 2025
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseFeb 12, 2025
- Feb 12, 2025IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Feb 12, 2025IntroReferralIntro-H
Introduced in House
- Feb 12, 2025IntroReferral1000
Introduced in House