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133 STAT. 1038
PUBLIC LAW 116–33—JULY 25, 2019
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 sen-
tence.
(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.’’.
Protecting
Affordable
Mortgages for
Veterans Act
of 2019.
12 USC 1701
note.
July 25, 2019
[S. 1749]
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133 STAT. 1039
PUBLIC LAW 116–33—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.
Æ
(c) RULE OF CONSTRUCTION.—Nothing in this Act may be con-
strued to restrict or otherwise modify the authorities of the Govern-
ment National Mortgage Association.
Approved July 25, 2019.
12 USC 1721
note.
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