Show EASING OF MORTGAGE CREDITS CREDITS' IS FORESEEN Head lead of Bankers Bankers' Organization tion Sees Money f for for- for Build r Building Building Build Build- ing R Revival vival Loosening of mortgage credit within the next next- few m months to finance a private building revival that lat will d definitely restore t 1 re pr prosper prosper- per per- ty was forecast Friday by W W. Walter Williams of Seattle president of the Mortgage Bankers' Bankers Association of America in a luncheon talk before the ic Utah Ulah a. a association at the Alta club Williams Williams- who r recently attended a meeting of the national l b board ard of governors gov gov- at ChIcago Is making a flying tour our of or the midwest arid and west He will wUl leave for Lo Los Angeles s Friday midnight 1 Since I l' l ame territory ry four our months month ago ego ago the interest I terest In resumption resumption re- re of private lending has de- de eloped amazingly I am am confident it will ill be only Po a few ew months before actual lending reaches large proportions ions he said pointing o out t it ha has been een private lending to finance buildIng operations that ended previous pre pre- ious depressions Back of President The Mortgage Bankers Bankers' in n which ar are represented nearly all the lie large insurance corporations banks anks and loan 1010 companies of the country are arc re solidly back of President I Roosevelt's recovery measures Williams Wiliams Wil Wil- hams iams said Our support is based on the emergency emer emer- gency ency nature of the acts We would not ot like to see ee organizations such as astie the tie Home Owners' Owners Loan corporation become permanent for that would I mean the taking over private business he explained The H. H 0 O. O L. L C. C has been authorized authorized author- author zed to spend which represents only 10 per cent of the mortgages on American homes Obviously Obviously Ob Oh- the setup can can take core care of only distressed cases Higher Taxes Loom Lavish expenditures for recovery measures will result ultimately in higher taxes so it is essential that steps be token taken to prevent real eat estate bearing waring an undue share of the taxes Sales taxes or other measures should be e used to relieve real estate Reduction of the gold content of the he dollar has effected affected mortgage hold holdS 3 l j W. W v. v Walter alter Williams ms ers era but little accor according to 10 Williams Confidence in hi the government is strong and the reduction of the gold content of the dollar will have little effect unless the tremendous credit reservoir created by this action causes a runaway market he said d. d Better rental Better rental occupancies end and rent collections the past few Jew months aregood aregood are ore good indications of improving general general gen gene eral conditions Everything points toward a rise in rents this falL Met let by br O Collins Williams was met at et the train FrIday FrI day morning by James W W. Collins president of ot Tracy Tracy- Loan and Trust Trus company and vice president of the national organization the visitor heads Officials of the Utah Mortgage Bankers' Bankers association which sponsored the luncheon meeting are Karl D D. Hardy cashier of Home Investment Investment Investment Invest Invest- ment and Savings company president president president dent Willard R. R Smith assistant cashier at Zions Zion's Savings Bank ant and Trust company vice president am and Ralph B. B Wright vice president am and of Trust Trus treasurer Judge Halloran-Judge company secretary treaSurer |