Security and Victory in Iraq Act of 2007 - Directs the President every 30 days to certify to the appropriate congressional committees the extent to which the government of Iraq: (1) is cooperating with U.S. stability efforts in Iraq; and (2) has made demonstrable progress toward achieving stability and security for its people, denying terrorists a sanctuary in Iraq, and ensuring equal access to resources.
Directs the President every 30 days to report to the appropriate congressional committees respecting: (1) implementation of the Iraq "A New Way Forward" strategy; (2) the government of Iraq's progress in meeting specified benchmarks; (3) Iraqi Army progress and operations; (4) expenditure of funds for the Iraqi Army; (5) effectiveness of the police force in Baghdad; and (6) contributions by U.S. allies to support the government and people of Iraq.
Directs the President to: (1) require all relevant U.S. departments and agencies to conduct an interagency assessment of the impact that U.S. military withdrawal from Iraq would have on U.S. national security and homeland security interests and on U.S. allies in the region; and (2) report to the appropriate congressional committees.
Establishes in the House of Representatives the Select Bipartisan Committee to Monitor United States Policy and Strategy for Iraq.