S. 2304
Referred to CommitteeProtecting Veterans from Predatory Lending Act of 2018
Latest Action
Read twice and referred to the Committee on Veterans' Affairs.
1/11/2018 • Senate
Summary
Protecting Veterans from Predatory Lending Act of 2018
The bill establishes mortgage loan protections for veterans.
A refinanced home loan may not be guaranteed by the Department of Veterans Affairs (VA) unless: (1) a specified minimum time period has passed between the original loan and the refinancing; and (2) the lender complies with provisions related to fee recoupment, mortgage interest rates, and net tangible benefit tests.
The National Housing Act is amended to prohibit the Government National Mortgage Association (Ginnie Mae) from guaranteeing a new refinanced VA loan until the later of: (1) 210 days after the first loan payment, or (2) the sixth monthly loan payment.
Introduced in Senate • 1/11/2018
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Sponsor & Cosponsors (14)
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Sponsor
Cosponsors (13)
Bill Journey
Originated in the Senate
Introduced
January 11, 2018
Read twice and referred to the Committee on Veterans' Affairs.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law