[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.