Home Owners' Loan Act: Hearings Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Seventy-third Congress, First Session, on S. 1317 |
From inside the book
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Page 1
... created under section 4 of this Act . ( c ) The term " home mortgage means a first mortgage on real estate in fee ... CREATION OF EMERGENCY LOAN CORPORATION SEC . 4. ( a ) The Board is hereby authorized and directed to create a Corpora ...
... created under section 4 of this Act . ( c ) The term " home mortgage means a first mortgage on real estate in fee ... CREATION OF EMERGENCY LOAN CORPORATION SEC . 4. ( a ) The Board is hereby authorized and directed to create a Corpora ...
Page 35
... selling market is re - created , which will be greatly expediated by the mortgage stability insured once this long - time low - cost financing is in force . ( 5 ) Appraisals to be based on valuations of HOME OWNERS ' LOAN ACT 35.
... selling market is re - created , which will be greatly expediated by the mortgage stability insured once this long - time low - cost financing is in force . ( 5 ) Appraisals to be based on valuations of HOME OWNERS ' LOAN ACT 35.
Page 38
... creating the present mortgage dilemma . ( 4 ) The 15 - year plan of amortization will entail too high a monthly cash outlay upon the home owner . It will be considerably higher than the 6 percent he is now paying . In most cases the ...
... creating the present mortgage dilemma . ( 4 ) The 15 - year plan of amortization will entail too high a monthly cash outlay upon the home owner . It will be considerably higher than the 6 percent he is now paying . In most cases the ...
Page 45
... created which should have the benefits of a Federal discount system so that the mortgages would have liquid qualities . Our bill provides that membership in the system is open to any firm , corporation , or person engaged in the ...
... created which should have the benefits of a Federal discount system so that the mortgages would have liquid qualities . Our bill provides that membership in the system is open to any firm , corporation , or person engaged in the ...
Page 64
... created . Senator BULKLEY . Would it follow that this bill 1317 should not be passed at all ? Mr. HENNESSY . I do not think it should be passed at all . It is entirely unwise , as it seems to me . It is based upon , as it seems to me ...
... created . Senator BULKLEY . Would it follow that this bill 1317 should not be passed at all ? Mr. HENNESSY . I do not think it should be passed at all . It is entirely unwise , as it seems to me . It is based upon , as it seems to me ...
Common terms and phrases
33 Liberty Street 80 percent Act as amended amortization amount apply appraisal authorized BARKLEY bill bonds building and loan capital cash census centum chairman cities committee counties currency debentures deposits discount distress district eligible equity exceed Federal Home Federal home-loan bank Federal mortgage bank Federal Reserve feel foreclosure funds gages Government HENNESSY home financing Home Mortgage Advisory home owners institutions interest rate invested issued legislation Loan Act loan associations Loan Bank Act loan corporation Lorain County McAvoy million moratorium mort Mortgage Advisory Board mortgage bank system mortgage loans mortgagor municipalities nonsubscriber borrower obligations organization payments percentage President principal proposed rate of interest real estate Reconstruction Finance Corporation relief require RUSSELL SCHMIDT Senator BULKLEY Senator COUZENS Senator MCADOO Senator TOWNSEND small home taxes thereof tion Treasury United United States Senate
Popular passages
Page 4 - ... makes any statement knowing it to be false, or whoever willfully overvalues any security, for the purpose of obtaining for himself or...
Page 109 - ... means such classes of first liens as are commonly given to secure advances on, or the unpaid purchase price of, real estate, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby.
Page 2 - The 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 2 - 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...
Page 3 - In order to provide local mutual thrift institutions in which people may invest their funds and in order to provide for the financing of homes, the Board is authorized, under such rules and regulations as it may prescribe, to provide for the organization, incorporation, examination, operation, and regulation of associations to be known as 'Federal Savings and Loan Associations...
Page 5 - ... or (2) passes, utters or publishes, or attempts to pass, utter or publish, any false, forged or counterfeited...
Page 111 - The Corporation shall be entitled to the free use of the United States mails in the same manner as the executive departments of the Government.
Page 5 - The provisions of sections 112, 113, 114, 115, 116, and 117 of the Criminal Code of the United States (USC, title 18, ch.
Page 120 - Issued or purporting to have been issued by the corporation, or (4) passes, utters or publishes, or attempts to pass, utter or publish, as true any falsely altered or spurious...
Page 112 - Board shall annually make a full report of its operations to the Speaker of the House of Representatives, who shall cause the same to be printed for the information of the Congress.