HOUSING: Challenger for FHA

For more than two decades, the Federal Housing Administration has been virtually the only insurer of home mortgage loans. Private institutions, recalling the failures of insurance companies during the Depression, made no move to challenge FHA's monopoly. Now the field has been invaded by Milwaukee's Mortgage Guaranty Insurance Corp., which is already insuring $2,000,000 worth of mortgages a month, hopes to have $500 million insured by the end of 1958. Last week Mortgage Guaranty got its third state license, in Minnesota (the other two: Wisconsin and Illinois); with other licenses applied for...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!