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Administrator amendment American Federation amount apply approved areas asked authorized Bank Bates believe bill builder building built chairman charges claim committee construction Corporation cost course cover debentures Defense Fund defense housing defense workers dwelling expenses fact Federal Federation of Labor feel FERGUSON figure four-family fund further give Government home ownership increase industry interest issued less limitation live loans mean meet monthly months mortgage mortgage insurance obligation operative paid pass payment percent period permanent plant possible premium present prevailing principal production profit proposed purchase question reasonable rent residence responsibility risk Secretary sell Senator BANKHEAD Senator Brown Senator RADCLIFFE Senator Taft Smith sound speculative standards statement subcommittee tion United wage WALES
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 3 - ... (d) Any contract of insurance heretofore or hereafter executed by the Administrator under this title 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.
Page 5 - USC 5), shall not be construed to apply to any contract of hazard insurance or to any purchase or contract for services or supplies on account of property obtained by the Administrator as a result of loans made under this Act if the premium therefor or the amount thereof does not exceed $1,000.
Page 12 - 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 3 - Administrator, have otherwise acquired such property from the mortgagor after default, the mortgagee shall be entitled to receive the benefit of the insurance as hereinafter provided, upon (1) the prompt conveyance to the...
Page 5 - The power to convey and to execute in the name of the Administrator deeds of conveyance, deeds of release, assignments and satisfactions of mortgages, and any other written instrument relating to real property or any interest therein...
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 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 5 - ... notwithstanding any other provision of law, the Administrator shall also have power to pursue to final collection, by way of compromise or otherwise, all claims against mortgagors assigned by mortgagees to the Administrator as provided in this section...
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.