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ey). The Veterans Administration told hint he would be considered for a direct loan—but only if the new Voluntary Home Mortgage Credit Program failed to find a . private lender willing to make a regular G.I. guaranteed loan.
3. Awhile later, the veteran heard from a private lender. He was offered a G.I.» guaranteed loan—provided an “origination” fee of one per cent and a “discount" fee of two per cent or more were paid. (In many cases, across the nation, these discount demands rose to outrageous figures. The Veterans Administration finally decided a dtecount of more than two per cent, on top of the one per cent origination fee, was unreasonable.)
4. The veteran became suspicious, understandably, about these demands for discounts. They’Were news to him. Oh making inquiries he found, to his complete exasperation, that the law would not .permit him to pay the discounts, even if he agreed to them. They would have to be "absorbed” by the Seller of the house. In-a great many cases, small builders in the towns and rural - areas had never heard of the discounts, either.* They had decided on a „ selling price for the houses, and they refused to cut the price by the amount of the discount demanded. (In and around large cities, many veterans have not been faced directly with the discount problem. The big builders, knowing the
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