    [United States Statutes at Large, Volume 133, 116th Congress, 1st Session]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    Public Law 116-33
    116th Congress

    An 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 ``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 1039]]

    (c) <>  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.