[Congressional Record Volume 165, Number 94 (Wednesday, June 5, 2019)]
[Senate]
[Page S3267]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        PROTECTING AFFORDABLE MORTGAGES FOR VETERANS ACT OF 2019

  Mr. McCONNELL. Mr. President, I ask unanimous consent that the Senate 
proceed to the immediate consideration of S. 1749, submitted earlier 
today.
  The PRESIDING OFFICER. The clerk will report the bill by title.
  The legislative clerk read as follows:

       A bill (S. 1749) to clarify seasoning requirements for 
     certain refinanced mortgage loans, and for other purposes.

  There being no objection, the Senate proceeded to consider the bill.
  Mr. McCONNELL. I ask unanimous consent that the bill be considered 
read a third time.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The bill was ordered to be engrossed for a third reading and was read 
the third time.
  Mr. McCONNELL. I know of no further debate on the bill.
  The PRESIDING OFFICER. Is there further debate?
  If not, the bill having been read the third time, the question is, 
Shall the bill pass?
  The bill (S. 1749) was passed, as follows:

                                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.
  Mr. McCONNELL. I ask unanimous consent that the motion to reconsider 
be considered made and laid upon the table with no intervening action 
or debate.
  The PRESIDING OFFICER. Without objection, it is so ordered.

                          ____________________