The Chronicle-star combined with the Moss Point advertiser., 1941-12-05
Home Construction
Designed 60 Benefit
National Defense


Washington . c Nc4 a ts4i-
The number af new aaaneS x1KTsec
&c ue first tsn maxsAx % Enax
Yx4r Is per cezs &C aazz "A defense
lu1uszxF critical zreax E1zS &lrca6v
substantially gxueeac1 The total
naznher constructed EsdeT PgzA tn
epecuu2 an Al &C Is4e. PcdeTAi
Hu4ztng Adnintxtrator Ahruer n
p1rga~on announced tnsday.
TnrDagn OctaeNz s.. the FEA
lad MACE first cozaqslAzce lz1Sy@c-
auus on h0Enek being financed w1fh
lb6Ht marriages compared WITH
T-2axz curing e. e lR<a The tssAi
nzzsber o. dwelling En1kk covered
y hez< marriages exceecs thts
flEgze since m&rE g THESE loans
ecprr two three ard four-famiH
hoasef winch are especially popular
1n6eT use cef-nse housing feature
q TIE NHthunA HouxznE Art added
lax1 sur1ng.
II b ant1cspsted NJ Fervus0n
sid ttssx re number & cweLilnz
uznes Started un1er the FEA a.
Epec1tnn and 1nxncnd with FHA-
insured Mortgages fo the whole year
VII be wez above &C aao, b far tne
largest uuxnber ever constructed
unnez me FEA program y 8 Con-
parable perau6
~. Fc-guson emphasized taRf tae
great mA1ursty a. THESE hau2es are
beng hullt n defense industry
crstlrAl areas. ard tkzas uney arr dH-
slgzae1 for SALE 81 tsIn0o or ieSs CT
fu rent Et So e. less pr month.
BoA q these requirements nunkt be
me- Il huEloe<x wish urlora1aek ASSIST
snnK from the offire of ProdBcu0n
Management IN order 20 obtain
critical mnter1Aak
So onay IN 6 PER cent CT the
1Helitng units exs-Huav beng stRrs-
&C urs1eT The FEA program located
= critical areas buf Haxee-5uzzteEx
q TIE uuttx are rAlze6 s. less than
6 80 Consequently. moz q these
eweltneS are prnpex3T located and
ursred for purchase o. rent BY de-
tense workerx
II Is expected therefore M. FER
gasen Ezad 1hAz the FEAk volume
q e cur2srue13on xe1szEnxe tn
surname Al the nexx few m0nshs VIII
de<itne n tire zaain 70 TIE extnzaf
thEz building CO hnrnG costing more
thar 5000 w located outxde uf
defense areas is bhsckec b lack q
mkae-aak or Inability q builders 70
obtain praogztes assistance
Mr. FergusoD pointed out also
taAz tDe FEAE volume Of INSURANCE
applications covering ne transfer Of
existing properties q the rE1znGnc-
ing q outstanding mortgage tn
oeoaecneSz Is showing . higher o0s-
lar volume than lAa YeaE and Is
representing q larger proportion Ct
tut& Applications uncer Title II.
Operations under Tile VI de-
Tense housing INSURANCE. are ex-
sEetE6 20 increase A1o11 une-th1rd
u the total Ese0B2 20 antnortzA-
aoz has beer utilized azus far. Ap-
p1lcanons under Tile VI naturally
represent AZ 1ew c~uzxtv8cttcn
NJ FeEgusoz estimated that even
VIII a much larger 1rop II new Con-
Euara0n thAn nos EHtic1pa1ed the
FEAk DcoEnk tFoz1 fees premiums,
z1c investments w1 Substantially
z1ceec rs operating costs for an
indefinite period q tine Recur-
1nE premiums o. $500 8o0 800 q
outstanding insured Mortgages are
ne CHIEF SUurce 6 znc1Enk and are
lut s1tectec bF arg ~kzTznkzge II
noA frez ard initial premiums.
Consequently the FExAk mortgage
aEarznce reserves III continue 70
~
PA offices throughout me coun-
= U1G continue = operate under
hesvT Eolume q woEE These c.
Ekz q nov ~Fezpnnzhle for the
Processing o. s-pp1e&tionS for build
- uhc w1sh - obtain pg1oriziez
ratings n addition to
rcznaET operations.
Nl