To Amend Home Owners' Loan Act, Hearing Before ..., 76-3 on S. 3370, S. 3371, S. 3372, and S. 3447 and Amendments ..., May 22, 1940 |
Common terms and phrases
2-year moratorium 4½ percent AMATO amended amount appraised believe bill borrowers Brooklyn BROWN Congress Corporation home owners Corporation's costs default deficiency bond deficiency judgments distressed home owners excess Federal Home Loan Federal home-loan bank Federal Housing Administration fiscal foreclosed foreclosure of Home foreclosure proceedings Fort Wayne Home Loan Bank Home Owners Loan home-loan bank advances income interest and principal interest rate June 30 legislation Loan Act Loan Corporation home Loan Corporation loans Loan Corporation mortgages losses member institutions month monthly payment Mortgaged premises mortgaged property mortgagor pays obligations operations Owners Loan Corporation Pennsylvania percent per annum present principal payments Projects Administration proposed rate of interest reduce the interest reduction of interest rental SAMOWICH Senator ADAMS Senator BARBOUR Senator DANAHER Senator HUGHES Senator Mead Senator Mead's statement Senator MILLER small home owners taxes tion Two-family house UNITED STATES SENATE unpaid balance York
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Էջ 1 - UNITED STATES SENATE, COMMITTEE ON BANKING AND CURRENCY, Washington, DC The committee met, pursuant to call, at 10:30 am, in room 301, Senate Office Building, Senator Robert F. Wagner presiding.
Էջ 10 - FRANCIS T. MALONEY, Connecticut GEORGE L. RADCLIFFE, Maryland PRENTISS M. BROWN, Michigan JAMES H. HUGHES, Delaware CLYDE L. HERRING, Iowa WILLIAM H.
Էջ 5 - I thank you, Mr. Chairman and gentlemen of the committee. The CHAIRMAN.
Էջ 3 - 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...
Էջ 34 - Hon. ROBERT F. WAGNER, Chairman, Committee on Banking and Currency, United States Senate, Washington, DC DEAR MR.
Էջ 3 - No institution shall be admitted to or retained in membership, or granted the privileges of nonmember borrowers, if the combined total of the amounts paid to it for interest, commission, bonus, discount, premium, and other similar charges, less a proper deduction for all dividends, refunds, and cash credits of all kinds, creates an actual net cost to the...
Էջ 18 - Interest accrues at the rate of 10 percent per annum on the amount of a judgment remaining unsatisfied.
Էջ 3 - ... or, in case there is a lawful contract rate of interest applicable to such transactions, in excess of such rate (regardless of any exemption from usury laws), or, in case there is no legal rate of interest or lawful contract rate of interest applicable to such transactions, in excess of 8 per centum per annum in the State where such property is located.
Էջ 49 - Loan Corporation require the most careful analysis. Exhibits 40 and 41, in the report of the Federal Home Loan Bank Board for the fiscal year ending June 30, 1938, show Home Owners' Loan Corporation "losses" both for the fiscal year and for the entire period of its operations. Net incomes of $7,000,000 for the fiscal year, and of $60,000,000 for the entire period, are converted into deficits by making "provision for losses" of $27,000,000 in the fiscal year and $101,000,000 over the whole period...
Էջ 37 - McGrath would amend subsection, (b) of section 10 of the Federal Home Loan Bank Act so as to authorize Federal home loan banks to make advances to members under that section on the security of 25year mortgages.