Defense Housing Insurance: Hearing Before the Committee on Banking and Currency, House of Representatives, Seventy-seventh Congress, First Session, on H.R. 3575 Superseding H.R. 3162, a Bill to Amend the National Housing Act, and for Other Purposes. February 17, 18, 19, 20, 21, 1941
U.S. Government Printing Office, 1941 - 166 pages
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able Administrator amendment amount areas Authority banks BECK believe bill BOVARD build builders built CHAIRMAN charge coming committee Congress connection construction contract Corporation correct cost course CRAWFORD debentures defense housing defense workers don't EDGERTON emergency employees entirely fact Federal Housing FERGUSON figure financing FORD foreclosure fund GIFFORD give going GORE Government homes increase industry instance institution interest JONES KOPPLEMANN KRAMER Lanham less limited loans loss matter McDONALD mean Miss SUMNER months MORRIS mortgage obligation officers operation paid PALMER passed PATMAN payment percent plant premium present President probably problem projects Public purchase question reason reference rent reserve secure sell situation SPENCE statement term thing tion Treasury true understand United WILLIAMS WOLCOTT
Page 4 - ... 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 4 - Debentures issued under this section shall be in such form and denominations in multiples of $50, shall be subject to such terms and conditions, and shall include such provisions for redemption, if any, as may be prescribed by the Administrator with the approval of the Secretary of the Treasury, and may be in coupon or registered form.
Page 4 - Treasury, at the time the mortgage was offered for insurance, but not to exceed 3 per centum per annum, payable semiannually on the 1st day of January and the 1st day of July of each year, and shall mature...
Page 5 - 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 1 - ... 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 4 - Such debentures shall be exempt, both as to principal and interest, from all taxation (except surtaxes, estate, inheritance, and gift taxes) now or hereafter imposed by any Territory, dependency, or possession of the United States or by the District of Columbia, or by any State, county, municipality, or local taxing authority.
Page 6 - Nothing herein shall be construed to exempt the real property of associations from taxation in any state or in any sub-division thereof to the same extent, according to its value, as other real property is taxed.
Page 4 - ... the Secretary of the Treasury shall pay to the holders the amount thereof which is hereby authorized to be appropriated, out of any money 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 debentures.
Page 2 - Administrator shall approve) in an amount not to exceed 90 per centum of the appraised value (as of the date the mortgage is accepted for insurance) of a property, urban, suburban, or rural, upon which there is located a dwelling designed principally for residential use for not more than four families in the aggregate, which is approved for mortgage insurance prior to the beginning of construction.