Public Law 116-33. Protecting Affordable Mortgages for Veterans Act of 2019
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/plaw/116/public/33A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An Act To clarify seasoning requirements for certain refinanced mortgage loans, and for other purposes.July 25, 2019[[S. 1749](/us/bill/116/s/1749)] * Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,* Protecting Affordable Mortgages for Veterans Actof 2019.[12 USC 1701 note](/us/usc/t12/s1701). ## 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)](/us/usc/t12/s1721/g/1)) is amended by striking the second sentence. ###
(b)Veterans Loans [Section 3709(c) of title 38, United States Code](/us/usc/t38/s3709/c), 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.” > . 133 STAT. 1039 ###
(c)Rule of Construction [12 USC 1721 note](/us/usc/t12/s1721). Nothing in this Act may be construed to restrict or otherwise modify the authorities of the Government National Mortgage Association. Approved July 25, 2019.
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- Public Law 116–32To amend the Omnibus Crime Control and Safe Streets Act of 1968 to expand support for police officer family services, stress reduction, and suicide prevention, and for other purposes
- Public Law 116–33To clarify seasoning requirements for certain refinanced mortgage loans, and for other purposes
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Public Law 116-33
Protecting Affordable Mortgages for Veterans Act of 2019
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