Evening star., 1941-07-22
F. H. A. Home Loans
Far Above Year Ago
In Capital Area
Metropolitan Increase
Of 1o.1 Per Cent Seen
In Three Months
BY HAROLD b. ROGERS.


the Washington Metropolitan Area
from January to May 3, l94l,
totaled 1l02, which was a l91 per
cent increase over the same period
in 1940 according to an analysis
issued by the Federal Housing Ad-
miniStration.
New construction of the same
nature in the area from July l to
December 81. 1910, amounted to 2,050
homes, which was a 47 per cent in
crease over the same period in 1899. |
Property Improvement loans within
the District of Columbia reported
for insurance under Title l of the
act numbered 6l2 from January
through March of this year in an
amount of S26O,320 Such loans for
the period between July, 1899. and
March 194l. we're made on 5008 /
homes in the amount Of S2161 O40.
Homes on which gross mortgages
were accepted for insurance" in |
the District of Columbia totaled l54
In the amount of 1872 200 for the
first three months of 194l. OF these |
q4.1 per cent were new homes. For
the first three months of 1910, !
MORTGAGES were accepted on l38
homes in the sum of S771 300.
The net cumulative total Of gross !
mortgages accepted for insurance
In the District of Columbia was
1926 homes in the amount of Sl4,- |
O46.250 up to March 81, l941.
Hold More Than Half.
An analysis of the type of institu-
ton originating mortgages on one
to four family homes in the Dis
trict of Columbia disclosed that |
mortgage companies and insurance
companies held more than half the
total.
This analysis showed that out of
a total of S3,069 900 accepted by all
types of lending institutions in
Washington, $4,000 was accepted !
by national banks, which was 4.8
per cent of the total for the Dis
trict. This compared with PAP per |
'cent of the total accepted mortgages
for the whole country held by ma
tional banks.
State banks here originated $685. |
900. which was 1877 per cent of the |
District total. as compared with 20.6
per cent held by all State banks .
out of the national total
Savings loan associations here .
originated S1580OO, which was So
per cent for the District, as COM
pared with 81 per cent by such as
sociations throughout the country.
Mortgage Firms Lead.
Mortgage companies originated |
S1.l83,00O here, which was 1876 per
cent in the District. as compared .
with 236 per cent throughout the
country.
Insurance companies here orlgi-
mated STAB 900, which was 242 per
cent of the District total, as COM |
pared with 125 per cent by insur-
ance companies throughout the
country.
Savings Banks here originated
s4l 900. which was 1.3 per cent of the
District total, as compared with 4
per cent by savings banks through
out the country.
"All other" institutions here ac-
counted for s18e 900, which was 81
per cent of the local figure, as COM
pared with 64 per cent assigned to
all others" of the Nation.
A. b. A. Conclave Planned.
Plans for the annual convention |
OF the American Bankers Association
soon will get under way. it was un-
derstood today. following the con-
ference at the White House yester-
day between P. D. Houston of Nash
Vile. Tenn, president of the A. B. A.,
and President Roosevelt.
The program for the gathering, to
be held at the Stevens Hotel in
Chicago, September % to October 2, |
had been in a very tentative form |
up to yesterday. Mr.. Houston on
emerging from the White House
conference told the press he had |
conferred with the Chief Executive !
regarding the forthcoming conven-
ton, but did not disclose details.
From sources close to the A B. A, !
II is believed that general defense |
economics" probably will be assigned |
to the important Board of Economic /
Policy, of which DR.. w. Randolph |
Burgess, vice chairman of the Ma !
tional City Bank, New York City, !
Is chairman.
Mr. Houston left Washington yes
terday afternoon shortly after his |
talk with the President and went |
directly to New York, headquarters |
of the A. B. A. In view of the de- I
fenSe emergency, it is expected the |
meeting and its deliberations will |
be among the most important held !
bv the bankers in years.
There will be two general sessions |
as usual. it was learned. on October |
! and October 2, while the meetings !
of the four major divisions will be |
held prior to these. Efforts will be |
made this year to avoid competition |
between the division sessions, such |
as happened in the past. The divi-
sions are National Bank. State Bank, |
Savings. and Trust divisions.
90 FOreSees Credit Control.
Mr.. Houston, leaving the White .
House. forecast a somewhat stricter |
control Of credit. He said, however,
there would be plenty Of credit for
all productive uses. since there is a
great surplus of loanable funds. He |
described the tendency of credit as
going on a longer term basis. The
question of venture capital for small !
defense industries, Mr.. Houston in
dicated. was not for banks to decide.
Banks, he said, must concentrate on .
capital loans that can be repaid out |
of earnings. In his opinion some !
initiation is inevitable, although he
hoped there would be mo wild orgy |
of spending as in the recent past"
He would like to see people put their |
spare cash into Defense bonds. He |
thought the banks could help COM
bat initiation by giving careful con-
sideration to the uses to which ,
money is put.
Financial District Notes.
C+eolev uoIlonJ tr,,r+ oAcer