National Housing Act, Hearings Before ..., 73-2 on S. 3603 ..., May 16-24, 19341934 - 447 pages |
From inside the book
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Page 3
... appraised value of the property offered as security therefor in the case of homes constructed since the passage of this act , or 60 percent of the appraised value of such property in the case of existing homes , provided that , except ...
... appraised value of the property offered as security therefor in the case of homes constructed since the passage of this act , or 60 percent of the appraised value of such property in the case of existing homes , provided that , except ...
Page 4
... appraiser , or examiners of the Corporation , makes any false entry in any book , report , or statement of or to the Corporation , or without being duly authorized , draws any order or issues , puts forth , or assigns any certificate of ...
... appraiser , or examiners of the Corporation , makes any false entry in any book , report , or statement of or to the Corporation , or without being duly authorized , draws any order or issues , puts forth , or assigns any certificate of ...
Page 16
... lending . The so - called " sound " financial institutions generally lend but 40 or 50 percent of the appraised value of the property upon a short- term instrument payable in full at maturity . This not 16 NATIONAL HOUSING ACT.
... lending . The so - called " sound " financial institutions generally lend but 40 or 50 percent of the appraised value of the property upon a short- term instrument payable in full at maturity . This not 16 NATIONAL HOUSING ACT.
Page 17
... appraised value of the property appears on first thought to be the perfect mortgage instrument to conservative lending institutions , if it must depend for its liquidity upon the possibility of being refinanced at maturity , it must ...
... appraised value of the property appears on first thought to be the perfect mortgage instrument to conservative lending institutions , if it must depend for its liquidity upon the possibility of being refinanced at maturity , it must ...
Page 19
... appraised value . ( 2 ) That 25 percent of the total face value of mortgages in a single fund defaulted . ( 3 ) That the ultimate realization of the fund on these properties in default was only 50 percent of the original appraised value ...
... appraised value . ( 2 ) That 25 percent of the total face value of mortgages in a single fund defaulted . ( 3 ) That the ultimate realization of the fund on these properties in default was only 50 percent of the original appraised value ...
Common terms and phrases
80 percent amendment amortized amount appraisal asso bill billion dollars Board BODFISH bonds borrower building and loan building trades BULKLEY capital CHAIRMAN committee construction cost DEANE debentures debt ECCLES employment FAHEY Federal Home Loan Federal home-loan bank financing foreclosed foreclosure FRIEDLANDER funds gage going Government guaranteed HARRIMAN Home Credit Insurance home mortgages Home Owners houses income increase industry institutions Insurance Corporation interest investment Johns-Manville lending loan associations Loan Bank Loan Corporation losses McAvoy ment million months mort mortgage insurance mortgage loans Motors Acceptance Corporation mutual savings banks national mortgage associations obligation payment premium president proposed question real estate real-estate repairs RIEFLER RUSSELL savings banks Secretary PERKINS Senator ADAMS Senator BARKLEY Senator COUZENS Senator GOLDSBOROUGH Senator GORE Senator KEAN Senator TOWNSEND Senator WAGNER statement STEFFAN thing tion United
Popular passages
Page 11 - ... shall not be considered as loans secured by real estate within the meaning of this section but shall be classed as ordinary commercial loans...
Page 1 - Administrator to be issued hereunder and for such purpose the Secretary of the Treasury is authorized to use as a public debt transaction the proceeds from the sale of any securities issued under the Second Liberty Bond Act, as amended...
Page 119 - Upon any such payment a receipt therefor shall be issued by the corporation to the United States and delivered to the Secretary of the Treasury, and shall be evidence of the stock ownership of the United States. There is hereby authorized to be appropriated the sum of $10,000,000, in addition to the $5,000,000 heretofore authorized, for the purpose of paying such subscription.
Page 4 - Nothing herein shall be construed to exempt the real property of associations from either state, county or municipal taxes, to the same extent, according to its value, as other real property is taxed.
Page 123 - Whoever makes any statement knowing it to be false or whoever willfully overvalues any security for the purpose of obtaining for himself or for any applicant any loan or extension thereof by renewal, deferment of action, or otherwise, or the acceptance, release or substitution of security therefor, or for the purpose of influencing in any way the action...
Page 4 - Any and all notes, debentures, bonds or other such obligations issued by the corporation shall be exempt both as to principal and Interest from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by the United States, by any territory, dependency or possession thereof, or by any state, county, municipality or local taxing authority.
Page 9 - Corporation, including its franchise, its capital, reserves, and surplus, and .its income, shall be exempt from all taxation now or hereafter imposed by the United States, by any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority...
Page 5 - Reserve bank or of any board, commission, independent establishment, or executive department of the Government, including any field service thereof, may avail itself of the use of information, services, and facilities thereof in carrying out the provisions of this section.
Page 119 - Commissioner but not to exceed thirty years from the date of insurance of the mortgage; "(4) contain complete amortization provisions satisfactory to the Commissioner requiring periodic payments by the mortgagor not in excess of his reasonable ability to pay as determined by the Commissioner...