Evening star. [volume] (Washington, D.C.) 1854-1972, 1943-12-04
Private Groups Urged
To Plan for Postwar
Mortgage Insurance

Douglas Whitlock, president OIL
the Producers Council here, this
week declared that private financial
institutions should prepare to take
over as soon as possible after the
war all mortgage insuring functions
now assumed by the Federal Hous-
ing Administration"
In speaking before the United
States Savings and Loan League in
Chicago he warned members of the
construction industry that they must
cooperate with the War Production
Board I'm order to make certain
that restrictions on private building
and construction are removed as
fast as developments in the war pro-
gram permit, thus providing the
maximum amount of employment
for demobilized construction work.
ers when the war program begins to
slacken."
Says FILA Served Purpose.
Granting that the FILA has served
a valuable purpose in the past and
has demonstrated the feasibility of
mutual mortgage insurance, the
council president expressed the be-
lief that the public's postwar hous-
ing needs nevertheless would be met
most successfully by returning full
responsibility for the Nations hous-
Ing program to private business and
reducing the extent of Federal con-
troll over construction. He recon-
mended that the insuring operations
of the FILA should be continued
during the early postwar years-un-
til equivalent facilities can be ar
ranged by private enterprise.
Referring to the platform for post
war construction recently adopted
by the council, he said that man
ufacturers of building materials and
equipment represented by our organ
ization believe in the principle that
government should assist and mo-
tivate private enterprise, but not
compete with it, and that we should
work to hasten the day when gov
eminent will revert to it's true and
legitimate function.
Our platform states that private
new construction and maintenance
and improvement of residential and
estate. both in urban and rural COM
munities, should be stimulated by
the provision of financial facilities
adequate for postwar needs. En-
couragement should be given to the
establishment of privately-owned
mutual insuring facilities to guaran-
y act mr. &c IN, ov.ffy ~
notes, both for the financing Of new
and existing construction and for
the financing of maintenance and
repair.
Stable Investments.
Such facilities should adopt pro-
cedures designed to enhance the
probability of producing good en-
vironments, sound construction, and
stable investments. Governmental
instrumentalities which provide
financial guarantees should be con-
tinued only until equivalent services
are provided by private enterprise.
Financial institutions should be
permitted and encouraged to invest
directly in the production of houses
for sale and in rental projects. The
insuring of yield on investments in
rental housing also should be con-
sidered carefully.
I'VE so far have had no definite |
encouragement of any quick resump-
ton in the manufacture of building
products for peacetime use, but We
are we'll satisfied that there is q
healthy attitude on this matter int
high places. have no doubt that
q sound program of reconversion can
be worked out, if we in the industry
stay on the job and contribute our
full share Of sound thinking and
planning at each crucial stage" MI !
Whitlock stated.