Protecting Affordable Mortgages for Veterans Act of 2019

Bill: 116-hr-1988
Sponsor: Rep. Scott, David [D-GA-13]
Introduced: 2019-03-28 in the House
Policy area: Housing and Community Development
Subjects: Housing finance and home ownership
Interest, dividends, interest rates
Veterans' loans, housing, homeless programs

Summary:
action_date: 2019-03-28
text: 

Protect 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.

action_date: 2019-07-09
text: 

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.


Legislative actions:
action_date: 2019-07-10
text: Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 143.
action_date: 2019-07-09
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2019-07-09
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5274)
action_date: 2019-07-09
text: 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)
action_date: 2019-07-09
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 1988.
action_date: 2019-07-09
text: Considered under suspension of the rules. (consideration: CR H5274-5276)
action_date: 2019-07-09
text: Ms. Waters moved to suspend the rules and pass the bill, as amended.
action_date: 2019-07-09
text: Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 116-138, Part I.
action_date: 2019-07-09
text: Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 116-138, Part I.
action_date: 2019-05-01
text: Forwarded by Subcommittee to Full Committee by Voice Vote .
action_date: 2019-05-01
text: Subcommittee Consideration and Mark-up Session Held.
action_date: 2019-05-01
text: Referred to the Subcommittee on Economic Opportunity.
action_date: 2019-03-28
text: 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.
action_date: 2019-03-28
text: 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.
action_date: 2019-03-28
text: Introduced in House
action_date: 2019-03-28
text: Introduced in House