Emergency Mortgage Interest Reduction Payments Act of 1982: Hearing Before the Subcommittee on Housing and Urban Affairs of the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-seventh Congress, First Session, on S. 2226 ... March 23, 1982
United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Housing and Urban Affairs
U.S. Government Printing Office, 1982 - Government publications - 138 pages
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Page 53 - Some reassurance on the need for such a program is given in the testimony earlier in 1968 before the Subcommittee on Housing and Urban Affairs of the Senate Committee on Banking and Currency by Secretary Robert C.
Page 53 - Federal agency" means any department, agency, corporation, or other entity or instrumentality of the executive branch of the Federal Government, including the United States Postal Service, the Federal National Mortgage Association, and the Federal Home Loan Mortgage Corporation. (6) The term "Federal building...
Page 45 - Fed policy works with a substantial lag — and so appears to be reacting to current financial and economic conditions in a myopic way. This myopia has in part been accentuated by an underestimation of the market's response to exogenous economic stimuli and Fed activity. The Fed must anticipate and offset the market's overreaction to outside random shocks. While it must clearly focus on a long-run policy of slowing excessive growth of credit, it should not allow the violent short-term swings that...
Page 6 - National Association of Housing and Redevelopment Officials, 2600 Virginia Avenue, NW, Washington, DC 20037 National...
Page 53 - ... or by a mortgagee approved by the Secretary of Housing and Urban Development for participation in any mortgage insurance program under the National Housing Act, with which institution or mortgagee the seller may contract.
Page 53 - NPRA, the surety bond during the warranty period will drop to 3 percent the first year, 2 percent the second, and 1 percent the third year.
Page 10 - It is important for you to know what needs to be done and why; it is not wise to disable services or components before you analyze your needs and requirements.
Page 46 - ... does not work through a black box but rather through real and nominal interest rates. Real interest rates are the ultimate determinant of investment and economic activity. Nominal interest rates are also of major importance in certain sectors of the economy, such as housing. As a result, Fed policy led to violent fluctuations in both the real and financial sectors of the economy in 1980.
Page 45 - Reserve's failure to anticipate or comprehend some of the key linkages between its activities and the financial and real sectors of the economy. The Fed appears to have erred in several fundamental ways.