Summary: H.R.12298 — 93rd Congress (1973-1974)All Information (Except Text)

There is one summary for H.R.12298. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (01/28/1974)

Provides that the interest rate on loans guaranteed or insured to veterans for the purchase or construction of homes shall be as agreed to by the lender and borrower, unless the Administrator of Veterans' Affairs determines that such rate is excessive in view of the current interest rates in the mortgage or loan market in the areas involved.

Directs the Administrator to prescribe such regulations as may be necessary to assure that lenders do not, directly or indirectly, make any charges in the nature of discounts or points in connection with loans guaranteed under provisions for Veterans' Benefits.