Text: S.1749 — 116th Congress (2019-2020)All Information (Except Text)

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Public Law No: 116-33 (07/25/2019)

 
[116th Congress Public Law 33]
[From the U.S. Government Publishing Office]



[[Page 133 STAT. 1038]]

Public Law 116-33
116th Congress

                                 An Act


 
To clarify seasoning requirements for certain refinanced mortgage loans, 
      and for other purposes. <<NOTE: July 25, 2019 -  [S. 1749]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, <<NOTE: Protecting 
Affordable Mortgages for Veterans Act of 2019. 12 USC 1701 note.>> 
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protecting Affordable Mortgages for 
Veterans Act of 2019''.
SEC. 2. SEASONING REQUIREMENTS FOR CERTAIN REFINANCED MORTGAGE 
                    LOANS.

    (a) Ginnie Mae.--Section 306(g)(1) of the National Housing Act (12 
U.S.C. 1721(g)(1)) is amended by striking the second sentence.
    (b) Veterans Loans.--Section 3709(c) of title 38, United States 
Code, is amended--
            (1) in the matter before paragraph (1), by striking ``is 
        refinanced'' and inserting ``is a refinance''; and
            (2) by striking paragraphs (1) and (2) and inserting the 
        following new paragraphs:
            ``(1) the date on which the borrower has made at least six 
        consecutive monthly payments on the loan being refinanced; and
            ``(2) the date that is 210 days after the first payment due 
        date of the loan being refinanced.''.

[[Page 133 STAT. 1039]]

    (c) <<NOTE: 12 USC 1721 note.>>  Rule of Construction.--Nothing in 
this Act may be construed to restrict or otherwise modify the 
authorities of the Government National Mortgage Association.

    Approved July 25, 2019.

LEGISLATIVE HISTORY--S. 1749 (H.R. 1988):
---------------------------------------------------------------------------

HOUSE REPORTS: No. 116-138, Pt. 1 (Comm. on Veterans' Affairs) 
accompanying H.R. 1988.
CONGRESSIONAL RECORD, Vol. 165 (2019):
            June 5, considered and passed Senate.
            July 9, considered and passed House.

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