Word: mortgagees
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Dates: during 1930-1939
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If the local mortgage corporation wishes to require the borrowers to leave on deposit from ten to fifteen per cent of the sums borrowed, this to be used as a subscription to capital stock, there will be no objection from the Reconstruction Finance Corporation. This is the plan in use...
The R. F. C. will be in the position of a rediscount agency to which the local mortgage corporations can come for credit. The R. F. C. will examine the collateral--namely, the mortgages--and will make loans based on requirements, anywhere from three months to three years or possibly...
If the mortgage corporations are set up with new capital stock, then ultimately they will find their borrowing capacity increased.
Several hundred applications for loans based upon the mortgage corporation idea have been received at the R. F. C. here already, but in not all cases have the corporations been set up in a manner that makes possible immediate lending. Once all the requirements are met, capital will be made...
It may be, too, that residential construction will be aided by the new mortgage companies. While there are of course plenty of for rent signs and the owners of properties feel that sufficient mortgage money is outstanding, the truth is a survey of many big cities reveals a housing shortage...