Flow o[ Southern California F HA Applications M.y Continue

Los Angeles, August 22.-"The continued steady flow of applications for FHA mortgage insurance on proposed new homes into the local office indicates that the present active rate of construction in the small-home field will continue for some time," said W. G. Bingham, district director of the Southern California district in his weekly report on FHA activities.

20 miles from Los Angeles. Good living conditions. Thirty-five years under one owner. Will lease ground (two acres) and buildings for any desired term, for $100 monthly plus taxes. Inventory $10,000. See Twohy Lumber Co., Lurnber Yard Brokers, 801 Petroleum Bldg., Los Angeles. Telephone PRospect 87+6. Total Title

During the first two weeks of August, 1756 small-home mortgage insurance applications, with a dollar value of $7,651,100, were filed with the local office, 114O of which num= ber, valued at $5,109,500, covered new homes to be built under FHA inspection. IJnder Section 2O3 of. the National Housing Act, 218 of the applications, valued at $981,65O, were for homes constructed before applications for insurance were made and 398, with a value of $1,559,850, were presented under Title VI of the act.

These figures represent a slight increase over the twoweek period just preceding, which reflected a t733 intake, at a value of. $7,D52fi.

FHA's Title VI program, consisting of defense housing mortgage insurance in areas designated by the President, maintains a fairly consistent average throughout. A bill is now before Congress whereby it is proposed to increase the original amount of $100,000,000 appropriated for the Title VI program, to $300,000,000, which will be of interest to the builders and home owners throughout the district.

Cumulative volume of business for the Southern Califor- nia district, Janaary, 1935, through Augtrst 15, 1941, follows:

Mortgages Accepted for ApPraisal:

**-Purchase-money mortgages and refinancing of existing construction.