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H.R. 6737 (115th): Protect Affordable Mortgages for Veterans Act of 2018


The text of the bill below is as of Sep 7, 2018 (Introduced).

Summary of this bill

Source: Republican Policy Committee

H.R. 6737 amends section 306(g) of the National Housing Act to provide a technical fix so that recently executed loans refinanced by the Department of Veterans Affairs (VA) Home Loans can remain eligible for pooling in the Government National Mortgage Association (Ginnie Mae) security.


I

115th CONGRESS

2d Session

H. R. 6737

IN THE HOUSE OF REPRESENTATIVES

September 7, 2018

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).