Pub. L. 116-33 - Protecting Affordable Mortgages for Veterans Act of 2019

116th Congress

Affects: 12 U.S.C. §§ 1721; 38 U.S.C. §§ 3709

This Act may be cited as the “Protecting Affordable Mortgages for Veterans Act of 2019”.

(a) Section 306(g)(1) of the National Housing Act (12 U.S.C. 1721(g)(1)) is amended by striking the second sentence.

(b) Section 3709(c) of title 38, United States Code, is amended—

(b)(1) in the matter before paragraph (1), by striking “is refinanced” and inserting “is a refinance”; and

(b)(2) by striking paragraphs (1) and (2) and inserting the following new paragraphs:

(b)(2)“(1) the date on which the borrower has made at least six consecutive monthly payments on the loan being refinanced; and

(b)(2)“(2) the date that is 210 days after the first payment due date of the loan being refinanced.”

(b)(2) .

(c) Nothing in this Act may be construed to restrict or otherwise modify the authorities of the Government National Mortgage Association.

June 5, considered and passed Senate.

July 9, considered and passed House.