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H.R.1988 - Protecting Affordable Mortgages for Veterans Act of 2019116th Congress (2019-2020) |

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Sponsor: Rep. Scott, David [D-GA-13] (Introduced 03/28/2019)
Committees: House - Financial Services; Veterans' Affairs
Committee Meetings: 05/08/19 2:00PM 05/08/19 10:00AM 05/01/19 10:00AM (All Meetings)
Committee Reports: H. Rept. 116-138
Latest Action: Senate - 07/10/2019 Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 143.  (All Actions)

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This bill has the status Passed House

Here are the steps for Status of Legislation:

  1. Introduced
  2. Passed House
  3. Passed Senate
  4. To President
  5. Became Law

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  • Constitutional Authority Statement
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Summary: H.R.1988 — 116th Congress (2019-2020)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Passed House (07/09/2019)

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.