Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, <<NOTE: Protecting Affordable Mortgages for Veterans Act of 2019. 12 USC 1701 note.>>
This Act may be cited as the ``Protecting Affordable Mortgages for Veterans Act of 2019''.
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.
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.
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