Federal Home Loan Bank Act
- Federal Home Loan Bank Act
- An act passed by the Hoover administration in 1932 that was designed to encourage home ownership by providing a source of low-cost funds for member banks to extend mortgage loans. The Federal Home Loan Bank Act was the first in a series of bills that sought to make home ownership an achievable goal for more Americans.
Proponents of these measures argue that home ownership is an essential part of the American dream and that home ownership results in stronger local communities and a higher overall quality of living. However, critics claim that this long tradition of federal subsidies for mortgage loans distorted the housing market, culminating in overly lax lending standards and unnaturally high housing prices.
Investment dictionary.
Academic.
2012.
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Federal Home Loan Bank Act — The Federal Home Loan Bank Act is a United States federal law passed in 1932 under President Herbert Hoover in order to lower the cost of home ownership.It established the Federal Home Loan Bank Board to charter and supervise federal savings and… … Wikipedia
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Federal Home Loan Banks — Banks created under the Federal Home Loan Bank Act of 1932, for the purpose of keeping a permanent supply of money available for home financing. The banks are controlled by the Federal Housing Finance Board. Savings and loans, insurance companies … Black's law dictionary
Federal Home Loan Banks — Banks created under the Federal Home Loan Bank Act of 1932, for the purpose of keeping a permanent supply of money available for home financing. The banks are controlled by the Federal Housing Finance Board. Savings and loans, insurance companies … Black's law dictionary
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