discount control

discount control Sec. 605. The Federal Housing Commissioner shall fix reasonable limits on the charges, fees, and discounts imposed upon the builder, seller, or purchaser in connection with the financing of the construction or sale of any housing covered by a mortgage insured under the National Housing Act, whether or not such charges, fees, and discounts are imposed in connection with the financing under such mortgage. The Administrator of Veterans’ Affairs shall fix reasonable limits on the charges, fees, and discounts imposed upon the builder, seller, or purchaser in connection with the financing of the construction or sale of any housing which is built or purchased with a home loan insured or guaranteed under the Servicemen’s Readjustment Act of 1944, whether or not such charges, fees, and discounts are imposed in connection with such home loan. Such limits may vary in accordance with the terms of the mortgage involved, the geographical area in which the housing is located, and such other pertinent factors as the Commissioner or the Administrator deems advisable. As a condition of eligibility for such guaranty or insurance, the lender shall certify that no charge, fee, or discount has been imposed by it in excess of the limits fixed pursuant to this section.