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Disapproval of Automated Valuation Model Quality Standards.

The U.S. Congress intends to disapprove rules concerning quality standards for automated valuation models (AVMs) used in real estate. This means that regulations designed to ensure accuracy and reliability in property valuations will not take effect. This could impact real estate transactions, as automated valuations might lack consistent oversight.
Key points
Congress aims to block new quality standards for automated property valuations.
Without these standards, there may be less oversight on the quality of home and property valuations.
This decision could affect the real estate market and lending processes.
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Status:
Introduced
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Additional Information
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".
Print number: HJRES 51
Sponsor: Rep. Clyde, Andrew S. [R-GA-9]
Process start date: 2025-02-12