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H.J.Res. 49

U.S. House•In House Committee

Summary

H.J.Res. 49, “Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation relating to "Quality Control Standards for Automated Valuation Models"”, was introduced in the House on Feb 12, 2025 by Rep. Andrew Clyde (R). It was referred to Financial Services, and last saw action on Feb 12, 2025: Referred to the House Committee on Financial Services.

Record

Text

H.J.Res. 49 has no co-sponsors and has not gone to a roll call.

hjr49/introduced-in-house.txt
119 HJ 49 IH: Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation relating to “Quality Control Standards for Automated Valuation Models”.
 U.S. House of Representatives
 2025-02-12
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 IA  119th CONGRESS  1st Session  H. J. RES. 49  IN THE HOUSE OF REPRESENTATIVES   February 12, 2025   Mr. Clyde  submitted the following joint resolution; which was referred to the  Committee on Financial Services    JOINT RESOLUTION
Providing for congressional disapproval under  chapter 8  of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation relating to  Quality Control Standards for Automated Valuation Models .
That Congress disapproves the rule submitted by the Federal Deposit Insurance Corporation relating to  Quality Control Standards for Automated Valuation Models  (89 Fed. Reg. 64538 (August 7, 2024)), and such rule shall have no force or effect.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-02-12
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in House Feb 12, 2025

hjr49/introduced-in-house.md

Shown Here:
Introduced in House (02/12/2025)

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.

Sponsors

Rep. Andrew Clyde (R) sponsors H.J.Res. 49 alone.

Andrew Clyde

Rep. · R–GA-9 · Sponsor

Committees

H.J.Res. 49 went before 1 committee: Financial Services.

Financial Services
Financial Services
Referred To · Feb 12, 2025 · 559 Bills

Actions

H.J.Res. 49 has taken 2 actions since Feb 12, 2025.

ChamberAction
Feb 12, 2025
House
Introduced in House
Feb 12, 2025
House
Referred to the House Committee on Financial Services.Financial Services Committee

Votes

H.J.Res. 49 has not gone to a roll call.

Titles

H.J.Res. 49 goes by 2 titles.

  • Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation relating to "Quality Control Standards for Automated Valuation Models". — Official Title as Introduced
  • Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation relating to "Quality Control Standards for Automated Valuation Models". — Display Title

Classification

The Congressional Research Service files H.J.Res. 49 under Finance and Financial Sector, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.J.Res. 49’s is Finance and Financial Sector.

hjres49/policy-areas.txt
Finance and Financial SectorAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.J.Res. 49, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 29 (Wednesday, February 12, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CLYDE:H.J. Res. 49.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18[Page H678]

Source: congress.gov · legiscan.com