GOME TO THE REVEII.IE I

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Record Volume of Title I Loans in 1941 FHA Discontinues Tide Vl Commitments

Modernization or conversion of single-family houses continued to be the purpose of three out of every four loans reported by private financial institutions last year for insurance under Title I of the National Housing Act, Federal Housing Commissioner Abner H. Ferguson announced today.

Last year 524,134 such loans for $194,081,736 were reported for insurance, or 76.4 per cent of the total number and 68.7 per cent of the total amount. This compares with 495,?32 for $188,4&[,031 reported for this purpose in 194O, or 75.2 per cent of the number and 68.2 per cent of the amount.

The record volume of 685,016 loans for $282,646,332 reported for insurance under Title I last year was distributed a little more evenly among all types of industry in the housing field than in the pr'evious year.

Heating still led the list in the types of improvement, the major portion of the proceeds of. 24.3 per cent of the total number and 20.5 per cent of the total amount of all loans reported being for heating equipment and installations. This compares with 28.7 per cent of the total number and 24.0 per cent of the total amount f.or 1940.

All types of improvement except heating and new residential construction showed an increase in actual number and amount of loans over 1940, together with an increase in their ratios of the total volume of business. Many of the loans resulted in more dwelling units for war industry workers or in the maintenance of properties in good repair.

A Federal order has discontinued issuance by the Federal Housing Administration of commitments for mortgage insurance under Title VI of the National Housing Act, 'pending legislative action. The order does not afiect operation of Title II.

The authorized limit for insurance of mortgages under Title VI is set by law at $300,00O,m0, which amount is now obligated in commitments for insurance. New legislation is necessary before Title VI can again be operative.

With Title II remaining in operation and a large volume of Title VI commitments outstanding, it is expected that building 'n'ill continue active in this section.

CHRISTISON-COUGLE

Victor Christison, who is associated with his father in the machine shop business, and Miss Betty Cougle, secretary in The Diamond Match Company office, Woodland, Calif., were married at Reno, Nevada, on April 4. They rvill make their home in Woodland.

DON COVENEY WITH ATKINSON-STUTZ CO.

Don E,. Coveney has joined the sales staff of AtkinsonStutz Co., San Francisco, and will cover part of the Northern California territory.

Don, who lr'as with Strable Hardwood Co., Oakland for 13 years and with The Celotex Corporation for some time, has a wide circle of friends in the retail lumber trade throughout the Northern California area.

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