[Congressional Record Volume 165, Number 94 (Wednesday, June 5, 2019)]
[Senate]
[Page S3259]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Ms. SINEMA (for herself and Mr. Tillis):
  S. 1749. A bill to clarify seasoning requirements for certain 
refinanced mortgage loans, and for other purposes; considered and 
passed.

                                S. 1749

       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 ``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.''.
       (c) Rule of Construction.--Nothing in this Act may be 
     construed to restrict or otherwise modify the authorities of 
     the Government National Mortgage Association.
                                 ______