Voglio sapere a riguardo di…

FEDERAL REGISTER, Friday, September 1, 1939
agents shall be required to make settle ment with the insured institution at least monthly, and provided such bond is ap proved by the board of directors of the insured institution. No bond need be ob tained for any agent which is an insured institution or a bank insured by the Fed eral Deposit Insurance Corporation.
c Safe deposit business. The bond or bonds required by this section shall protect the insured institution in a man ner and amount satisfactory to the Cor poration with respect to the operation of any safe deposit business transacted by such insured institution. Sec. 403 c of NH.A., 48 Stat. 1258; 12 UJS.C. 1726
Adopted by the Board o f Trustees of Federal Savings and Loan Insurance Corporation on August 28, 1939.
seal
R. L. N agle, Secretary.

FEDERAL HOUSING
ADMINISTRATION

3789

f The term Administrator means the Federal Housing Administrator.
g The term borrower means one S ubchapter A P roperty I mprovement who is an eligible owner or lessee of real L oans property to be improved pursuant to the PART 501 property im provem ent loans provisions of the Act and who applies UNDER SECTION 2, TITLE I OF THE NA for and receives an advance of credit in TIONAL HOUSING ACT, AS AMENDED, EFFEC reliance upon the provisions of the Act.
TIVE JULY 1, 1 939t h The term Act means the Na tional Housing Act, as amended, effec T able of Contents tive July 1, 1939.
Sec.
501.1
Citation.
i The term Contract of Insurance 501.2
Definitions.
includes all of the provisions of these 5013
Eligible notes.
Regulations and of the applicable pro 501.4
Maximum loan.
501.5
Maximum permissible rinancing visions of the Act.
charges.
j The term insured institution 501.6
Credits.
means any bank, trust company, per 501.7
Eligible improvements.
501.8
Effect of prior mortgages insured or sonal finance company, mortgage com held by the Administrator.
pany, building and loan association, in 501.9
Completion certificateStatem ents. stallment lending company or other 501.10 Refinancing.
such financial institution which the Ad 501.11 Report of loans.
501.12 Claims.
ministrator has found to be qualified by experience or facilities and has ap F. R. Doc. 393196; Piled, August 31, 1939; 501.13 Class 3 loans.
501.14 New dw elling structure requirements. proved as eligible for credit insurance 10:13 a. m.
501.15 Allowable class 3 loan fees.
and to which he has issued a Contract 501.16 Insurance reserve.
501.17 Insurance charge.
of Insurance effective July 1, 1939.
501.18 Administrative reports and examina-
k The term Class 1 loan means tion.
HOME OWNERS LOAN
any loan which is for the purpose of 501.19
Amendments.
CORPORATION
financing the repair, alteration or im 501.20 Effective date.
provement of an existing structure or Administrative Order No. 2-202
Regulation I
of the real property in connection there 501.1 Citation. These Regulations with, exclusive of the building of new P art 402L oan S ervice may be cited and referred to as Regu structures.
EXPENSES AND ADVANCES IN SERVICING;
lations effective September 1, 1939, of l The term Class 2 Caloan means PROCEDURE
the Federal Housing Administrator gov any loan which is for the purpose of erning the insurance of qualified lending Amending P art 402 of Chapter IV, institutions against loss resulting from financing the construction of a new Title 24 of the Code of Federal Regula loans made under the provisions of Title structure which is not to be used in whole or in part either for residential or tions.
I, Section 2, of the National Housing Section 402.12-1 is amended to read as Act, as amended, effective July 1, 1939. agricultural purposes.
m The term Clas 2 b loan follows:
Regulation II
means any loan which is for the purpose Any Regional Manager with the ad 501.2 Definitions. As used in these of financing the construction of a new vice or approval of the Regional Counsel Regulations structure for use in whole or in part for where required, may exercise the author agricultural purposes.
a The term owner includes, in ad ity granted to the General Manager in n The term Class 2 loan includes Section 402.12. Such authority shall dition to owners in fee, life tenants and both Class 2 a and Class 2 b not be exercised by any State Manager persons holding an equity under a mort loans as defined in Sections 12 and 13 of except as may otherwise be provided in gage, trust or contract.
this Regulation.
b The term note includes a note, this title and in the Consolidated Man o The term Class 3 loan means ual, but State Managers shall make such bond, mortgage, or other evidence of in any loan which is for the purpose of debtedness.
recommendation to the Regional Man financing the construction of a new c The term payment includes a structure to be used in whole or in part ager as they may see fit in connection with their reports and other recom deposit to an account or fund.
for residential purposes.
d The term installment payment mendations in any given case.
p The terni Administration means includes that deposit to an account or Federal Housing Administration.
Effective August 15, 1939
fund which represents the partial re Above procedure promulgated by payment of an advance of credit.
Regulation HI
General Manager and General Counsel e The term loan includes any 501.3 Eligible notes. Promissory pursuant to authority vested in them by loan, advance of credit, or purchase of notes in order to be eligible for insur the Federal Home Loan Bank Board act an obligation representing a loan or ance:
ing pursuant to Secs. 4 a, 4 k of advance of credit for the purpose of a Shall bear the genuine signature, Home Owners Loan Act of 1933, 48 Stat. financing eligible repairs, alterations or 129, 132, as amended by Section 13 of improvements as authorized by the Na as maker, of an owner of the real prop the Act of April 27, 1934, 48 Stat. 647; tional Housing Act, as amended, effec erty to be improved or of a lessee thereof 12 U.S.C. 1463 a , k
tive July 1, 1939, and by these Regula under .a lease expiring not less than six calendar months after the maturity of Promulgated by General Manager tions.
the loan or advance of credit in the case and General Counsel of Home Owners Loan Corporation.
501.1 to 50131, inclusive, issued under of Class 1, Class 2 a and Class 2 b th e authority contained in Public, No. I l l __ loans and shall bear the genuine signa seal
R. l . N agle, 76th Congress H. R. 5323, Section 2.
ture, as maker, of an owner in fee simple fT he source of Sec. 501.1 to 50131, in of such real property or of a lessee there Secretary.
clusive, is regulations governing Property Improvement loans under section 2, Title I of under a lease having at least thirty P. R. Doc. 39-3199; Piled, August 31, 1939; o f the National Housing Act, as amended years to run from the date of the note in 10:13 a .m .
effective Sept. 1, 1939.
the case of Class 3 loans.