Proposed Repeal of the Federal Home Loan Bank Act: Hearings Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Seventy-third Congress, First Session, on S.6, a Bill to Repeal an Act Entitled "An Act to Create Federal Home-loan Banks, to Provide for the Supervision Thereof, and for Other Purposes", Approved July 22, 1932. Part 1 [-2] March 22 and 23 [29] 1933, Volumes 1-2 |
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Page 73
... appraisals . o not make the appraisals at all . tor BANKHEAD . In other words , they are just servicing- FAHEY . They simply supervise the work , and settle moot ques- promptly as they arise , instead of bringing them to Wash- tor ...
... appraisals . o not make the appraisals at all . tor BANKHEAD . In other words , they are just servicing- FAHEY . They simply supervise the work , and settle moot ques- promptly as they arise , instead of bringing them to Wash- tor ...
Page 74
... appraisers largely n the basis of their work , and as that work is examined in the files nd comes in . Where we find inefficiency and evident carelessness nd lack of fitness , then changes have to be made , and those changes re always ...
... appraisers largely n the basis of their work , and as that work is examined in the files nd comes in . Where we find inefficiency and evident carelessness nd lack of fitness , then changes have to be made , and those changes re always ...
Page 75
... appraisers from the list . nator BANKHEAD . Who finally passes upon the suitability of appraisers ? FAHEY . The State appraiser and our appraisal organization nator BANKHEAD . What were your tests for determining whether n was a ...
... appraisers from the list . nator BANKHEAD . Who finally passes upon the suitability of appraisers ? FAHEY . The State appraiser and our appraisal organization nator BANKHEAD . What were your tests for determining whether n was a ...
Page 76
... appraisals ? Mr. FAHEY . No ; not that exactly . There is an amendment in he House bill that we shall not employ any appraisers who are onnected with mortgage institutions . I do not recall the exact anguage of that - if he is in the ...
... appraisals ? Mr. FAHEY . No ; not that exactly . There is an amendment in he House bill that we shall not employ any appraisers who are onnected with mortgage institutions . I do not recall the exact anguage of that - if he is in the ...
Page 77
... appraisers was to be held ut the country . AHEY . No ; that is not quite true , Senator , so far as we have e to find out . That may have happened in some cases , but rally speaking , so far as we have been able to learn . or GORE . It ...
... appraisers was to be held ut the country . AHEY . No ; that is not quite true , Senator , so far as we have e to find out . That may have happened in some cases , but rally speaking , so far as we have been able to learn . or GORE . It ...
Common terms and phrases
Administrator agency AHEY amendment amortized amount applications appraisal bank system BARKLEY BODFISH bonds building and loan CATLETT committee Congress course debentures DELANO delinquent directors district FAHEY farm Farm Credit Administration Federal Home Loan Federal Housing Administration Federal Reserve Federal Savings filed financing FRIEDLANDER funds Government HOAGLAND Home Loan Bank home mortgage Home Owners House bill Insurance Corporation interest investment lending Loan Act loan associations Loan Bank Act Loan Bank Board Loan Corporation Loan League March 21 matter ment MOFFETT National Housing Act nator operation organization payments percent premium proposed purchase question Reconstruction Finance Corporation record regional office RUSSELL Satisfactory in present savings and loan SCHWELLENBACH Sena Senator BANKHEAD Senator BULKLEY Senator GORE Senator MCADOO Senator STEIWER SSELL State-chartered institutions subsection supervision thereof thing tion United States Building UNITED STATES SENATE Washington
Popular passages
Page 161 - ... 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 52 - ... makes any statement knowing it to be false, or whoever willfully overvalues any security, for the purpose of obtaining for himself or...
Page 7 - States (USC, title 18, ch. 5, sees. 202 to 207, inclusive), insofar as applicable, are extended to apply to contracts or agreements with the corporation under this act, which for the purposes hereof shall be held to include loans, advances, extensions and renewals thereof, and acceptances, releases, and substitutions of security therefor, purchases or sales of assets, and all contracts and agreements pertaining to the same.
Page 50 - ... 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 249 - Administrator is authorized to fix a premium charge for the insurance of mortgages under this title but in the case of any mortgage such charge shall not be less than an amount equivalent to one-half of 1 per centum per annum nor more than an amount equivalent to 1 per centum per annum of the amount of the principal obligation of the mortgage outstanding at any time, without taking into account...
Page 52 - The provisions of sections 112, 113, 114, 115, 116, and 117 of the Criminal Code of the United States (USC, title 18, sees.
Page 251 - No insurance shall be granted under this section to any such financial institution with respect to any obligation representing any such loan, advance of credit, or purchase by it (1) unless the loan bears such interest, has such maturity, and contains such other terms, conditions, and restrictions, as the Administrator shall prescribe...
Page 52 - 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 52 - ... or (2) passes, utters or publishes, or attempts to pass, utter or publish, any false, forged or counterfeited...
Page 161 - mortgage 'means a first mortgage on real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable; or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was excuted ; and the term 'first mortgage...