Extension of FNMA Purchase Contracts, Hearing Before a Subcommittee of ..., 84-1 on S. 1575 .. S.1645 ..., April 20, 1955

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1. lappuse - Installations, and for other purposes Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That...
20. lappuse - Hawaii, and would like to present this statement as an active member of the homebuilding industry and in my capacity as president of the National Association of Home Builders. The National Association of Home Builders (NAHB) represents...
7. lappuse - Directors, and notwithstanding the provisions of subparagraph (G)) issue a purchase contract (which shall not be assignable or transferable except with the consent of the Association) in an amount not exceeding the amount of the sale of mortgages purchased from the Association, entitling the holder thereof to sell to the Association mortgages in the amount of the contract, upon such terms and conditions as the Association may prescribe...
6. lappuse - ... a discount. In repealing section 504 by section 813 of the Housing Act of 1954 (Public Law 560, 83d Cong., approved August 2, 1954), it appears to have been the view of the Congress that such repeal would leave the charges against builders to be determined by competitive forces and that the Veterans' Administration would confine itself to regulating the fees and charges which may be imposed by lenders against veteran borrowers.
34. lappuse - ... Mortgage delinquencies are gratifyingly low and show no tendency to rise. The present situation calls for congratulations rather than apprehension. In words attributed to Federal Reserve Chairman William McC. Martin in an interview with US News World Report, "Don't be afraid of prosperity." EXHIBIT 2 NATIONAL ASSOCIATION OF HOME BUILDERS OF THE UNITED STATES WASHINGTON 6, DC 1955 POLICY STATEMENT The home-building industry once more has demonstrated its vigor by producing 1,215,600 homes in 1954....
8. lappuse - REID, VICE PRESIDENT AND GENERAL COUNSEL, FEDERAL NATIONAL MORTGAGE ASSOCIATION Mr. REID.

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