[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 3536 Introduced in Senate (IS)]

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115th CONGRESS
  2d Session
                                S. 3536

     To amend the Economic Growth, Regulatory Relief, and Consumer 
Protection Act to clarify seasoning requirements for certain refinanced 
                mortgage loans, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

            October 2 (legislative day, September 28), 2018

 Ms. Klobuchar introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

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                                 A BILL


 
     To amend the Economic Growth, Regulatory Relief, and Consumer 
Protection Act to clarify seasoning requirements for certain refinanced 
                mortgage loans, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protect Affordable Mortgages for 
Veterans Act of 2018''.

SEC. 2. REQUIREMENTS FOR GINNIE MAE GUARANTEE OF SECURITIES.

    Section 306(g)(1) of the National Housing Act (12 U.S.C. 
1721(g)(1)) is amended by striking the second sentence (as added by 
section 309(b) of Public Law 115-174) and inserting the following: 
``The Association is authorized to take actions to protect the 
integrity of its securities from practices that it deems in good faith 
to represent abusive refinancing activities, and nothing in the Protect 
Affordable Mortgages for Veterans Act of 2018, the amendment made by 
such Act, or this title may be construed to limit such authority.''.
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