Amending National Housing Act: Hearings Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Seventy-seventh Congress, First Session, on H.R. 4693, an Act to Amend the National Housing Act, and for Other Purposes, June 2, 1941 |
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Page 4
... percentage of such $ 350,000,000 than the number of tenant farmers residing in such State is of the total number of tenant farmers residing in the United States . " ( b ) To be eligible for insurance under this section a mortgage shall ...
... percentage of such $ 350,000,000 than the number of tenant farmers residing in such State is of the total number of tenant farmers residing in the United States . " ( b ) To be eligible for insurance under this section a mortgage shall ...
Page 8
... percent over the amount of business it did at the corresponding period last year . It is paying all its own expenses without any assistance this year from the United States Govern- ment , and in addition to that will lay up a surplus of ...
... percent over the amount of business it did at the corresponding period last year . It is paying all its own expenses without any assistance this year from the United States Govern- ment , and in addition to that will lay up a surplus of ...
Page 10
... percent of the loans we insure . As above stated , we will have available for this $ 75,000,000 of reserve $ 13,000,000 , which would leave a deficit of $ 62,000,000 . We are therefore suggesting that the present authorization be ...
... percent of the loans we insure . As above stated , we will have available for this $ 75,000,000 of reserve $ 13,000,000 , which would leave a deficit of $ 62,000,000 . We are therefore suggesting that the present authorization be ...
Page 12
... percent character loans with no security . Title II , you will recall , is the section under which we insure mort- gage loans . Senator BANKHEAD . What line on the bill , page 9 ? Mr. FERGUSON . The title II amendments begin on line 20 ...
... percent character loans with no security . Title II , you will recall , is the section under which we insure mort- gage loans . Senator BANKHEAD . What line on the bill , page 9 ? Mr. FERGUSON . The title II amendments begin on line 20 ...
Page 15
... percent of the total amount of insurance written under title I. Against this loss there had been collected in cash and repossessed property a little over $ 11,300,000 , making a net loss at March 31 of slightly over 12 percent . And we ...
... percent of the total amount of insurance written under title I. Against this loss there had been collected in cash and repossessed property a little over $ 11,300,000 , making a net loss at March 31 of slightly over 12 percent . And we ...
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Common terms and phrases
ABNER H Act is amended Agriculture amended by inserting amount appraisal approval authorized average BALDWIN Bankhead-Jones Farm Tenant basis bill borrower cash collections Congress county committee course debentures issued default exceed Farm Credit Administration farm plan Farm Security Administration Farm Tenant Act farm-tenant Federal Housing Administration Federal land bank Federal Loan Administrator FERGUSON figures finance foreclosure going Government hereby amended income increase inserting in lieu interest July June 30 lieu thereof limit losses March 31 maturity McDONALD ment mittee mort mortgage insurance fund mortgaged property mortgagor National Housing Act Negroes operation outstanding owner paid percent premium present principal obligations purchase pursuant real estate real property repair Secretary sell Senator BANKHEAD chairman Senator BROWN Senator DANAHER Senator LEE Senator RADCLIFFE Senator TAFT SHERIDAN DOWNEY subcommittee subsidy tenant farmers thing tion title IA Treasury
Popular passages
Page 6 - ... determined by the Commissioner with the approval of the Secretary of the Treasury, at the time the mortgage was accepted for insurance, but not to exceed 3 per centum per annum...
Page 3 - ... 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 6 - ... in the Treasury not otherwise appropriated, and thereupon to the extent of the amount so paid the Secretary of the Treasury shall succeed to all the rights of the holders of such obligations.
Page 5 - ... and by deducting from such total amount any amount received on account of the mortgage after either of such dates, and any amount received as rent or other income from the property, less reasonable expenses incurred in handling the property, after either of such dates: Provided, That with respect to mortgages which are...
Page 6 - 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, and the purposes for which securities may be issued under that Act, as amended, are extended to include any purchases of such notes and obligations.
Page 3 - Such purchases shall be made at a price which will provide an investment yield of not less than the yield obtainable from other investments authorized by this section. Debentures so purchased shall be canceled and not reissued.
Page 4 - (5) Bear interest (exclusive of premium charges for insurance) at not to exceed 5 per centum per annum on the amount of the principal obligation outstanding at any time...
Page 1 - Act; (4) pursue to final collection, by way of compromise or otherwise, all claims against third parties assigned to the Administrator in connection with loans made by him.
Page 5 - For the purposes of this subsection, the value of the mortgage shall be determined...
Page 5 - ... (e) Any contract of insurance executed by the Secretary under this section shall be conclusive evidence of the eligibility of the mortgage for insurance, and the validity of any contract of insurance so executed shall be incontestable in the hands of an approved mortgagee from the date of the execution of such contract, except for fraud or misrepresentation on the part of such approved mortgagee.