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".
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Latest action
- Feb 12, 2025
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What it does
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.
Official summary · Introduced in House · Feb 12, 2025
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While a bill can still move, the questions are about people and money.
- Who sits in the seats that vote on itA roster is not a certified tally, and a filing is not a place on the ballot.
- Who funds the people decidingA receipt is not backing. A contribution does not establish a policy motive.
- Who is paid to be heardNaming an institution is the filer's account, not a record of any meeting.
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