FUTURE OF FHA HEARINGS BEFORE THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS UNITED STATES SENATE NINETY-FIFTH CONGRESS FIRST SESSION TO TAKE STOCK OF THE PAST AND THE PRESENT FHA AND REVIEW THE POTENTIAL OF THE AGENCY FOR PLAYING A REDEFINED ROLE IN HOUSING POLICY IN THE FUTURE 99-247 OCTOBER 26, 27, AND 28, 1977 Printed for the use of the Committee on Banking, Housing, and Urban Affairs U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1977 COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS WILLIAM PROXMIRE, Wisconsin, Chairman JOHN SPARKMAN, Alabama HARRISON A. WILLIAMS, JR., New Jersey EDWARD W. BROOKE, Massachusetts H. JOHN HEINZ III, Pennsylvania KENNETH A. MCLEAN, Staff Director (II) CONTENTS Opening statement of Senator Proxmire. Statement of Senator Sparkman__ Lawrence B. Simons, Assistant Secretary for Housing-Federal Housing Commissioner, Department of Housing and Urban Development_ __ Horace Bazan, Committee for the Revitalization of FHA, Washington, Vondal Gravlee, vice president and treasurer, National Association of Home Builders, accompanied by J. Denis O'Toole, legislative counsel ---- Daniel C. Hanrahan, chairman of the Legislative Committee, National Association of Realtors, accompanied by Budd Krones, member of the Executive Committee and Albert E. Abrahams, staff vice president, Government affairs department.. John C. Williamson, vice president, Mortgage Insurance Companies of Kennon V. Rothchild, immediate past president, Mortgage Bankers Association; accompanied by Claude Pope, first vice president; Burton Wood, legislative counsel; Bruce Johnson, deputy legislative counsel; and Peter Kaplan, senior director for management services-- Peter Maier, Housing Research Group, Center for the Study of Responsive Law, Washington, D.C.; accompanied by Thomas Stanton... Jeffery Zinsmeyer, economist, Neighborhood Revitalization Project Center Page Thomas H. Stanton, director, Housing Research Group, Center for Study Thomas Westrop, chairman of Urban Affairs Executive Committee, United States League of Savings Associations, presented by Lee B. Holmes, staff vice president, U.S. League of Savings Associations--- Saul Klaman, president, National Association of Mutual Savings Banks__ AN ACT to provide for the regulation of mortgage bankers-- ADDITIONAL STATEMENTS AND DATA 363 Committee for the Revitalization of FHA, letter, to Senator Proxmire, 35 FHA line authority and staff functions.. 31 GAO, letter to the Secretary of Housing and Urban Development, dated 390 HUD: Letter to Mr. Thomas H. Stanton, director, Housing Research Group, 389 News release dated July 27, 1977- 252 Single family property disposition program.. 370 Legal Assistance Foundation of Chicago, statement of Seymour J. Mans- |