Business: Fancy Mortgages

For anyone except a builder, banker or realtor the National Housing Act of 1934 is dull reading indeed. Only section with which the public is by now thoroughly conversant is Title I, dealing with insured repair and remodeling loans. Yet with all the hullabaloo about fixing roofs and installing new bathrooms the Federal Housing Administration has insured only $150,000,000 worth of that type of building stimulus. More significant, though less publicized, is FHA insurance of straight long-term mortgages, which was one of several major New...

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