Protect Affordable Mortgages for Veterans Act of 2018

Bill: 115-hr-6737
Sponsor: full_name: Rep. Zeldin, Lee M. [R-NY-1]
Introduced: 2018-09-07
Policy area: Housing and Community Development
Subjects: Housing finance and home ownership

Interest, dividends, interest rates

Veterans' loans, housing, homeless programs
Latest action: action_date: 2018-10-02
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2018-09-07
action_desc: Introduced in House
text: <p><b>Protect Affordable Mortgages for Veterans Act of 2018 </b></p> <p>This bill amends the National Housing Act to repeal waiting period requirements for guarantees provided by the Government National Mortgage Association (Ginnie Mae). Specifically, Ginnie Mae may guarantee a security backed by a refinanced Department of Veterans Affairs housing loan without a waiting period. </p>

action_date: 2018-09-26
action_desc: Passed House amended
text: <p><b>Protect Affordable Mortgages for Veterans Act of 2018 </b></p> <p>(Sec. 2) This bill amends the National Housing Act to repeal waiting period requirements for guarantees provided by the Government National Mortgage Association (Ginnie Mae). Specifically, Ginnie Mae may guarantee a security backed by a refinanced Department of Veterans Affairs housing loan without a waiting period. </p>

tv_txt: I 115th CONGRESS 2d Session H. R. 6737 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Economic Growth, Regulatory Relief, and Consumer Protection Act to clarify seasoning requirements for certain refinanced mortgage loans, and for other purposes.

1. Short title This Act may be cited as the Protect Affordable Mortgages for Veterans Act of 2018 . 2. Requirements for Ginnie Mae guarantee of securities Paragraph (1) of section 306(g) of the National Housing Act ( 12 U.S.C. 1721(g)(1) ) is amended by striking the second sentence (as added by section 309(b) of Public Law 115–174 ) and inserting the following: The Association is authorized to take actions to protect the integrity of its securities from practices that it deems in good faith to represent abusive refinancing activities and nothing in the Protect Affordable Mortgages for Veterans Act of 2018 , the amendment made by such Act, or this title may be construed to limit such authority. .

Passed the House of Representatives September 26, 2018. Karen L. Haas, Clerk.

tv_txt: I 115th CONGRESS 2d Session H. R. 6737 IN THE HOUSE OF REPRESENTATIVES September 7, 2018 Mr. Zeldin introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Economic Growth, Regulatory Relief, and Consumer Protection Act to clarify seasoning requirements for certain refinanced mortgage loans, and for other purposes.

1. Short title This Act may be cited as the Protect Affordable Mortgages for Veterans Act of 2018 . 2. Requirements for Ginnie Mae guarantee of securities Paragraph (1) of section 306(g) of the National Housing Act ( 12 U.S.C. 1721(g)(1) ) is amended by striking the second sentence (as added by section 309(b) of Public Law 115–174 ).

tv_txt: IB Union Calendar No. 768 115th CONGRESS 2d Session H. R. 6737 [Report No. 115–983] IN THE HOUSE OF REPRESENTATIVES September 7, 2018 Mr. Zeldin introduced the following bill; which was referred to the Committee on Financial Services September 26, 2018 Additional sponsors: Ms. Tenney , Ms. Sinema , and Mr. David Scott of Georgia September 26, 2018 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed A BILL To amend the Economic Growth, Regulatory Relief, and Consumer Protection Act to clarify seasoning requirements for certain refinanced mortgage loans, and for other purposes.

1. Short title This Act may be cited as the Protect Affordable Mortgages for Veterans Act of 2018 . 2. Requirements for Ginnie Mae guarantee of securities Paragraph (1) of section 306(g) of the National Housing Act ( 12 U.S.C. 1721(g)(1) ) is amended by striking the second sentence (as added by section 309(b) of Public Law 115–174 ).

September 26, 2018 Committed to the Committee of the Whole House on the State of the Union and ordered to be printed

tv_txt: IIB 115th CONGRESS 2d Session H. R. 6737 IN THE SENATE OF THE UNITED STATES September 27, 2018 Received October 2 (legislative day, September 28), 2018 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend the Economic Growth, Regulatory Relief, and Consumer Protection Act to clarify seasoning requirements for certain refinanced mortgage loans, and for other purposes.

1. Short title This Act may be cited as the Protect Affordable Mortgages for Veterans Act of 2018 . 2. Requirements for Ginnie Mae guarantee of securities Paragraph (1) of section 306(g) of the National Housing Act ( 12 U.S.C. 1721(g)(1) ) is amended by striking the second sentence (as added by section 309(b) of Public Law 115–174 ) and inserting the following: The Association is authorized to take actions to protect the integrity of its securities from practices that it deems in good faith to represent abusive refinancing activities and nothing in the Protect Affordable Mortgages for Veterans Act of 2018 , the amendment made by such Act, or this title may be construed to limit such authority. .

Passed the House of Representatives September 26, 2018. Karen L. Haas, Clerk.