To Provide for the Establishment of a Federal Mortgage Bank, Hearing Before a Subcommittee of ..., 74-2 on S. 2914 ..., January 18, 1936 |
From inside the book
Results 1-5 of 6
Page 6
... lines 1-2 : Its expenses limited to not more than $ 75,000 , said expenses to be advanced by the Reconstruction Finance Corporation and repaid " by the bank if and when it commences operations . " Page 3 , line 8 : Section 3 ...
... lines 1-2 : Its expenses limited to not more than $ 75,000 , said expenses to be advanced by the Reconstruction Finance Corporation and repaid " by the bank if and when it commences operations . " Page 3 , line 8 : Section 3 ...
Page 7
... lines 21-22 : 4. Stock may be sold " only for cash and for not less than par . " Page 7 , lines 23-24 : 5. " No stockholder , except the United States , may hold stock in the bank in excess of 1 per centum of the bank's authorized ...
... lines 21-22 : 4. Stock may be sold " only for cash and for not less than par . " Page 7 , lines 23-24 : 5. " No stockholder , except the United States , may hold stock in the bank in excess of 1 per centum of the bank's authorized ...
Page 8
... line 22 : Section 10 , eligible mortgages may be purchased by the bank , from stockholders , without recourse , at not to exceed " 98 per centum of the amount due in principal thereon , plus accrued interest . " Page 12 , line 3 ...
... line 22 : Section 10 , eligible mortgages may be purchased by the bank , from stockholders , without recourse , at not to exceed " 98 per centum of the amount due in principal thereon , plus accrued interest . " Page 12 , line 3 ...
Page 23
... - earned premium reserve will be sufficient to take care of loss in return premiums in the business . So it goes right down the line . But when you get to the mortgage guaranty business or ESTABLISHMENT OF FEDERAL MORTGAGE BANK 23.
... - earned premium reserve will be sufficient to take care of loss in return premiums in the business . So it goes right down the line . But when you get to the mortgage guaranty business or ESTABLISHMENT OF FEDERAL MORTGAGE BANK 23.
Page 27
... lines . I think our Commission , dependent upon certain decisions coming down from the Court of Appeals which we hope will be favorable , will prob- ably have a great deal to do along the lines of modernization and rehabilitation . The ...
... lines . I think our Commission , dependent upon certain decisions coming down from the Court of Appeals which we hope will be favorable , will prob- ably have a great deal to do along the lines of modernization and rehabilitation . The ...
Common terms and phrases
60 per centum agency ALBEN W amortization amount appraisers ASSOCIATION OF REAL authorized bank may lend BARKER believe board of directors bonds capital and surplus capital stock cash certificates CHAIRMAN Credit Foncier debentures defaults dividends earnings eligible fair worth Federal Housing Administration Federal mortgage bank Federal Reserve feel Fletcher bill frozen funds gage Government holders Housing institutions insurance companies interest rates investor issued JAMES COUZENS judgment lines liquidity loan MACDOUGALL mort mortgage finance mortgage investments mortgage loans mortgage structure mortgagor obligations officers paid payments periods of stress PETER NORBECK President principal proposed purchase or lend Real Estate Boards real-estate and mortgage Reconstruction Finance Corporation regulation repurchase agreement reserve system savings banks SCHMIDT Secretary Section sell Senator COUZENS Senator RADCLIFFE Senator WAGNER sound mortgage statement stockholders supervision taxes thereof tion United United States Senate WALSTRUM York
Popular passages
Page 5 - ... 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 ; except that any real property of the corporation shall be subject to State, Territorial, county, municipal or local taxation to the same extent, according to its value, as other real property is taxed.
Page 6 - ... makes any statement knowing it to be false, or whoever willfully overvalues any security, for the purpose of obtaining for himself or...
Page 5 - 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 4 - States, and such guaranty shall be expressed on the face thereof, and such bonds shall be lawful investments, and may be accepted as security for all fiduciary, trust, and public funds, the investment or deposit of which shall be under the authority or control of the United States or any officer or officers thereof.
Page 3 - The board of directors shall perform the duties usually appertaining to the office of directors of banking associations and all such duties as are prescribed by law.
Page 6 - 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 7 - Corporation, or, without being duly authorized, draws any order or issues, puts forth, or assigns any note, debenture, bond, or other obligation, or draft, bill of exchange, mortgage, judgment, or decree thereof...
Page 3 - Act, without regard to the provisions of other laws applicable to the employment and compensation of officers and employees of the United States...
Page 4 - In order to enable the Secretary of the Treasury to make such payments when called, the Reconstruction Finance Corporation is authorized and directed to allocate and make available to the Secretary of the Treasury the sum of $200,000,000, or so much thereof as may be necessary, and for such purpose the amount of the notes, bonds, debentures, or other such obligations which the Reconstruction Finance Corporation is authorized and...
Page 6 - Every Federal land bank shall semiannually carry to reserve account a sum not less than 50 per centum of its net earnings until said reserve account shall show a credit balance equal to the outstanding capital stock of said land bank. After said reserve is equal to the outstanding capital stock 10 per centum of the net earnings shall be added thereto semiannually.