Word: hud
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Dates: during 1960-1969
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...Pilgrims landed at Plymouth Rock. To finance it, S & Ls and mutual banks need more lee-way to attract and invest funds-partly to tap new sources of saving and partly to end the feast-or-farnine swings in mortgage lending. Builders have pressed for years to expand HUD's Federal National Mortgage Association into a central bank trading in conventional as well as FHA and VA mortgages, to which it is now confined. Bankers oppose any larger role for Fannie Mae, charging that the agency often disrupts the mortgage market it is supposed to steady. Last year...
...premiered just last year. Among the newer attractions for home screens next season: Tom Jones, The World of Henry Orient, The Yellow Rolls-Royce, How to Murder Your Wife, The Pink Panther, The Collector, The Best Man, Topkapi, A Shot in the Dark, A Hard Day's Night, Hud and Ship of Fools...
...lots; even the three-year-old federal building, a 30-story tower overlooking the polluted surf of Lake Erie, is already scabrous with peeling plastic. The city is having to pay $50,000 a month in interest costs on loans for its Erieview project alone. Last January, in exasperation, HUD Secretary Robert Weaver cut off $10 million in renewal funds...
Blast from HUD. Though the bonds would have to be guaranteed by the Government, Percy also provides for an investment from the owner. He calls it a "sweat equity" in which prospective homeowners can throw in their own labor to reduce their monthly mortgage payments. Under the Percy Plan, if a homeowner should rise above a middle-income level of $6,000 a year, he would subsequently contribute a commensurately greater portion of his monthly mortgage payment to the federation's revolving fund...
...bill, the Percy proposal received unwontedly enthusiastic backing from the Senate's 36 Republicans-and mild praise from Democratic Majority Leader Mike Mansfield. In the House, Cosponsor William Widnall of New Jersey could count on at least 100 votes. The bill also drew a scathing assault from HUD Secretary Robert Weaver, who blasted it as "totally unsupported by any factual analyses as to the kind and amount of subsidy that would be required for workable home ownership by poor families." Weaver's nine-page critique seemed to reflect a possessiveness about the urban problems that no federal program...