To clarify seasoning requirements for certain refinanced mortgage loans, and for other purposes.
Protecting Affordable Mortgages for Veterans Act of 2019
This bill revises loan seasoning requirements related to a refinanced Department of Veterans Affairs (VA) housing loan. Under current law, the VA is prohibited from guaranteeing a refinanced home loan until the date that is the later of (1) the date on which the sixth monthly payment is made, or (2) the date that is 210 days after the first payment is made. This bill modifies this date to (1) when the borrower has made six consecutive monthly payments, or (2) 210 days after the first payment is due.
Became Public Law No: 116-33.
Introduced in House
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Economic Opportunity.
Subcommittee Consideration and Mark-up Session Held.
Forwarded by Subcommittee to Full Committee by Voice Vote .
Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 116-138, Part I.
Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 116-138, Part I.
Ms. Waters moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H5274-5276)
DEBATE - The House proceeded with forty minutes of debate on H.R. 1988.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H5274)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5274)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 143.
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