Farm Mortgage Relief, Hearing Before ..., 78-1 on H.R. 4590, H.R. 4795 (S. 1110), April 5 and 6, 1933, Parties 9 à 101933 - 89 pages |
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Page 6
... tion 9 of the Reconstruction Finance Corporation Act , as amended , to have out- standing at any one time , is hereby increased by $ 300,000,000 . SHORT TITLE SEC . 403. This Act may be cited as the " Emergency Farm Mortgage Act of 1933 ...
... tion 9 of the Reconstruction Finance Corporation Act , as amended , to have out- standing at any one time , is hereby increased by $ 300,000,000 . SHORT TITLE SEC . 403. This Act may be cited as the " Emergency Farm Mortgage Act of 1933 ...
Page 7
... tion 1 . Second , in order to reduce and refinance existing farm mortgages , the Federal land banks are authorized to exchange bonds for or to buy outstanding farm mortgages on the best terms possible , passing the savings in principal ...
... tion 1 . Second , in order to reduce and refinance existing farm mortgages , the Federal land banks are authorized to exchange bonds for or to buy outstanding farm mortgages on the best terms possible , passing the savings in principal ...
Page 9
... tion of values that prevails . Now , the Federal land banks have had a satisfactory experience over about 18 years , over bad periods and good , and this method we are taking here of using the Government guaranty of interest only ...
... tion of values that prevails . Now , the Federal land banks have had a satisfactory experience over about 18 years , over bad periods and good , and this method we are taking here of using the Government guaranty of interest only ...
Page 11
... tion : In the valuation of the property , is it proposed to adhere pretty closely to the values upon which the loans were made in the past , or will there be a new valuation ? Dr. MYERS . I will refer that question to Mr. Bestor . Mr ...
... tion : In the valuation of the property , is it proposed to adhere pretty closely to the values upon which the loans were made in the past , or will there be a new valuation ? Dr. MYERS . I will refer that question to Mr. Bestor . Mr ...
Page 14
... tion . What proportion of the mortgages in default do you think could come in under the terms of this act ? I assume that there are a good many mortgages now which are in excess of the value of the land , so far as the amount is ...
... tion . What proportion of the mortgages in default do you think could come in under the terms of this act ? I assume that there are a good many mortgages now which are in excess of the value of the land , so far as the amount is ...
Expressions et termes fréquents
42 percent 75 percent Agriculture amended amount appraisal assessment authorized average basis BEAM benefit BESTOR bill BOILEAU bondholders borrower cent centum CHAIRMAN charge CLARKE collateral committee cost course CUMMINGS debt default direct loans DOXEY EVANS exceed FARM CREDIT ADMINISTRATION farm lands Farm Loan Act farm loan associations Farm Loan Commissioner farm mortgages farm property farmer Federal Farm Loan Federal land bank FLANNAGAN foreclosed foreclosure FULMER GILCHRIST GLOVER going Government HOPE indebtedness interest rate issue joint-stock land banks KLEBERG land bank bonds lien liquidation loss Marvin Jones MORGENTHAU mort mortgage loans mortgagor MYERS national farm loan obligations paragraph payment period PIERCE provision range lands rate of interest real estate receivership Reconstruction Finance Corporation reduce refinancing scale second mortgage sell Senate situation stock land banks stockholders taxes thing tion understand unpaid principal
Fréquemment cités
Page 7 - Treasury of the material so transferred. "(c) Effective whenever the Secretary of the Treasury shall cancel any notes pursuant to subsection (b) of this section, the amount of notes, debentures, bonds, or other such obligations which the Reconstruction Finance Corporation is authorized and...
Page 3 - Payments upon such subscription shall be subject to call in whole or in part by the board of directors of the Corporation.
Page 6 - Commissioner the sum of $200,000,000, or so much thereof as may be necessary, to be used for the purpose of making loans as hereinafter provided to any farmer, secured by a first or second mortgage upon the whole or any part of the farm property, real or personal, including crops, of the farmer.
Page 6 - Corporation not to exceed $500,000,000, in addition to the funds authorized under title I of the Emergency Relief and Construction Act of 1932, for expenditure under the provisions of this Act upon certification by the Federal Emergency Relief Administrator...
Page 39 - Every such mortgage shall contain an agreement providing for the repayment of the loan on an amortization plan by means of a fixed number of annual or semiannual installments...
Page 11 - Second. To invest such funds as may be in its possession in the purchase of qualified first mortgages on farm lands situated within the Federal land bank district within which it is organized or for which it is acting.
Page 5 - The board of directors of said association shall adopt a resolution authorizing and directing its secretarytreasurer on behalf of said association to endorse, and thereby become liable for the payment of, the mortgages taken from its charter members by the Federal land bank. When it shall appear to the satisfaction of the...
Page 21 - Treasury the amount so paid shall become an obligation to the United States of the issuing bank or banks and shall bear interest at the same rate as that borne by the bonds upon which the interest has been so paid. After the expiration of one year from the date this paragraph takes effect, if in the opinion of the Farm Loan Commissioner any part of the proceeds of the bonds authorized to be issued under this paragraph is not required for the purpose of making new loans or for purchasing mortgages...
Page 4 - Commissioner shall authorize said bank to make direct loans to borrowers secured by first mortgages on farm lands situated within any such locality or territory.
Page 11 - ... case the amount of the unpaid principal of the mortgage on the date of such purchase or exchange, or 50 per centum of the normal value of the land mortgaged and 20 per centum of the value of the permanent insured improvements thereon as determined upon an appraisal made pursuant to this Act, whichever is the smaller: Provided, That any mortgagor whose mortgage is acquired by a Federal land bank under this paragraph shall be entitled to have his farm-mortgage indebtedness refinanced in accordance...