Senate Bill 2304
115th Congress(2017-2018)
Protecting Veterans from Predatory Lending Act of 2018
Introduced
Introduced in Senate on Jan 11, 2018
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2304
Congress
115
Policy Area
Armed Forces and National Security
Armed Forces and National Security
Primary focus of measure is military operations and spending, facilities, procurement and weapons, personnel, intelligence; strategic materials; war and emergency powers; veterans’ issues. Measures concerning alliances and collective security, arms sales and military assistance, or arms control may fall under International Affairs policy area.
No Senate votes have been held for this bill.
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.
January 11, 2018
01/11/2018
Read twice and referred to the Committee on Veterans' Affairs.
01/11/2018
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:38:53 PM