National Housing Act: Hearings Before the Committee on Banking and Currency, House of Representatives, Seventy-third Congress, Second Session, on H.R. 9620, a Bill to Improve Nation-wide Housing Standards, Provide Employment, and Stimulate Industry; to Improve Conditions with Respect to Home-mortgage Financing, to Prevent Speculative Excesses in New-mortgage Investment, and to Eliminate the Necessity for Costly Second-mortgage Financing, by Creating a System of Mutual Mortgage Insurance and by Making Provision for the Organization of Additional Institutions to Handle Home Financing; to Promote Thrift and Protect Savings; to Amend the Federal Home Loan Bank Act; to Amend the Federal Reserve Act; and for Other Purposes. May 18, 25, 26, 28, 29, 30, 31, June 1, 2, 4, 1934 |
From inside the book
Results 1-5 of 52
Page 23
... LUCE . Mr. Chairman , reference has been made to the lack of private funds with which to secure more construction . Let me inform you - possibly you already have the information - that the 200 or more cooperative banks in our State have ...
... LUCE . Mr. Chairman , reference has been made to the lack of private funds with which to secure more construction . Let me inform you - possibly you already have the information - that the 200 or more cooperative banks in our State have ...
Page 25
... Luce say that there is plenty of money there in Massachusetts in the banks for mortgage purposes . Mr. FAHEY . Please do not misunderstand me . I did not mean to say that the money was to be had readily . What I said was that it was ...
... Luce say that there is plenty of money there in Massachusetts in the banks for mortgage purposes . Mr. FAHEY . Please do not misunderstand me . I did not mean to say that the money was to be had readily . What I said was that it was ...
Page 27
... Luce referred ; that is of bringing the private lending institutions to the point where , perhaps , a bit timidly , but to a certain extent , they have been ready to come back into the field . Mr. GOLDSBOROUGH . Well , these operations ...
... Luce referred ; that is of bringing the private lending institutions to the point where , perhaps , a bit timidly , but to a certain extent , they have been ready to come back into the field . Mr. GOLDSBOROUGH . Well , these operations ...
Page 30
... LUCE . Mr. Fahey , the questions that my colleague has asked I. think that he feels - and I know that I feel - sympathy with the proposal to encourage legitimate construction ; but that we doubt the social value of encouraging the ...
... LUCE . Mr. Fahey , the questions that my colleague has asked I. think that he feels - and I know that I feel - sympathy with the proposal to encourage legitimate construction ; but that we doubt the social value of encouraging the ...
Page 31
... Luce , as you know , any every time we have had this experience there has always been the opinion that we had reached the end of our rope , and that we were overbuilding , and that our production facilities had been ex- panded far ...
... Luce , as you know , any every time we have had this experience there has always been the opinion that we had reached the end of our rope , and that we were overbuilding , and that our production facilities had been ex- panded far ...
Common terms and phrases
20 percent agencies amendments amount assets BEEDY bill billion dollars BODFISH bonds borrower BROWN building and loan BUSBY CAVICCHIA CHAIRMAN committee construction cost course debentures debt deferred payments deposits ECCLES existing mortgages FAHEY FARRINGTON Federal Home Loan Federal Reserve System financing foreclosed foreclosure gages going GOLDSBOROUGH Government Government bonds guarantee HARRIMAN Home Loan Bank Home Owners HOPKINS housing income industry insurance companies Insurance Corporation insured mortgages interest rates investment Johns-Manville legislation lender lending institutions limit loan associations Loan Bank Board Loan Corporation losses LUCE MEEKS ment MILLER Miss PERKINS mort mortgage loans mortgage market Motors Acceptance Corporation national mortgage associations obligations operation POTTER PRALL premium purchase purpose question real estate Reconstruction Finance Corporation REILLY repair RUSSELL savings banks SPENCE statement thing tion understand WATSON WILLIAMS WOLCOTT
Popular passages
Page 122 - That the management of the Corporation shall be vested in a board of directors, consisting of...
Page 235 - There is hereby created a body corporate to be known as the Environmental Financing Authority, which shall have succession until dissolved by Act of Congress.
Page 364 - The Corporation shall be entitled to the free use of the United States mails for its official business in the same manner as the executive departments of the Government, and shall determine its necessary expenditures under this act and the manner in which they shall be incurred, allowed, and paid, without regard to the provisions of any other law governing the expenditure of public funds.
Page 18 - Moneys of the Corporation not required for current operations shall be deposited in the Treasury of the United States, or upon the approval of the Secretary of the Treasury, in any Federal Reserve bank, or shall be invested in obligations of, or guaranteed as to principal and interest by, the United States. When designated for that purpose by the Secretary of the Treasury, the Corporation shall be a...
Page 363 - Such associations, including their franchises, capital, reserves, and surplus, and their loans and income, shall be exempt from all taxation now or hereafter imposed by the United States (except the taxes imposed by sections...
Page 312 - States; (2) is subject to inspection and regulation under the banking laws, or under similar laws, of the State or of the United States...
Page 317 - SEC. 12. There is hereby created a Federal Advisory Council, which shall consist of as many members as there are Federal reserve districts each Federal reserve bank by its board of directors shall annually select from its own Federal reserve district one member of said council, who shall receive such compensation and allowances as may be fixed by his board of directors subject to the approval of the Federal Reserve Board.
Page 17 - ... regulations made by the Corporation, before paying dividends to its insured members; but such regulations shall require the building up of reserves to 5 per centum of all insured accounts within a reasonable period, not exceeding twenty...
Page 363 - 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 63 - Based upon reports received monthly by the Division of Research and Statistics of the Federal Home Loan Bank Board from recorders...