Amends the National Housing Act to direct that the interest rate on mortgages secured by one- to four-family residences and insured or guaranteed under specified Federal laws, be negotiated between borrower and lender. Prohibits lenders from charging discount points on such mortgages in excess of their acquisition costs.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to House Committee on Veterans' Affairs.
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