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Show Enterprise Review, April 7, 1976 Page FNMA Agrees to Second Mortgage Purchase from GNMA Investment Summary The Federal National Mortgage Association and the Government National Mort- transactions are good business for FNMA, good business for GNMA, and good business for gage Association today the home buying public. Of the purchase announced announced an agreement for FNMA to purchase an addi- today, $200 million will be tional SI billion in conven- mortgages originally purchastional home mortgages from ed for GNMA by FNMA. The FNMA. yield will be 9.072 percent, the A $700 million purchase was same as the yields on the announced on March 1st. original purchase. FNMA Chairman and PresiThe remaining $800 million dent Oakley Hunter said the will be mortgages purchased two purchases demonstrate for GNMA by the Federal FNMAs ability to adapt to Home Loan Mortgage Corporchanging conditions in the ation. The yield on these mortgages will be 9.132 permortgage market. Our purchase of these cent. FNMA will make a cash mortgages reflects our determination to act on our own deposit on the acquired mortinitiative in the conduct of our gages prior to June 30, 1976, affairs and not to react pas- although the actual delvery of sively to outside forces in the the mortgages may take place market, Hunter said. These at a later date. WP ;T Chuck Akerlow According Economic Review U&TO eeewvR built. The money market is encouraging but more importantly the consumer demand is Utah and Business total of 12,684 strong for Permit-authorize- construc- d tion in Utah last year generally exceeded 1974. As previously reported here, the total construction value was $526 million which exceeded the previous year by 13.3 percent. A A dwel- West Jordan , leading land development company in the single-famil- y housing business, reports a strong demand in Salt Lake, Utah, Davis and Weber Counties. It appears from their data that 1976 could see more than homes 13,000 single-famil- y and South Jordan where land prices still enable a young family to build a new, quality home at a modest price. We also see strong demand in the Draper area this year. As previously reported, the apartment building business will be equally strong this year, which when coupled with the expected boom in residences single-famil- y should make 1976 a strong year in the construction industry. OeWflVIB RS OMMim single-famil- y lings. We see continued growth in 1975, 9,378 were single-famil- y which was 500 more units than were issued in the record year of 1972. This is a healthy sign. The outlook for 1976 is strong. Ivory and Company, a TRUSTOOS AMERICA- a to the housing units were authorized which was above the number for 1974, but still far short of the i7,000 units built in 1973. Of those housing units built in A &VIU6 MOLP'W AM WJ50CKT AMERICA. A pfiARET FREE AMERI- A CA-. - I CHiLwa j m tmmr'' VP iu? Kb Kb CmStgs&t&s- A SEUSmZfiP AMERICA- - AU CTHWC AMERICA- - AW m FOVMMMR MOMR SQVAUTARIM AMERICA-CL ASS FREE AMERICA- - A MX B TffT WfKTAia? VCU A tOUl 06 . m TO SAC- mce w - RPOFF? s TOBRIUO Kb AMERICA ? Pragmatic Dogmatics Romney's Broadened Base by Kent Shearer t Evicence mounts that Attorney General Vern Romneys GOP gubernatorial effort goes well indeed. The most significant development to date is the announcement that his finance committee will be by Salt Lake d Attorney Louis H. Callister, Jr. and professional golfer Billy Casper, now of Mapleton, Utah County. Those appointments will give pause to Romney critics who. have delighted in a depiction of the highest ranking Republican d state official as an undeviating, conservative politician. Callister served in The 1964 as Nelson Rockefeller's Utah chairman, our states Rockefeller and in 1968, committee with former Interior Department Solicitor Mitchell Melich. More recently, he co-chair- ed world-renowne- hide-boun- co-chair- ed of a has been a GOP Forum which has sponsored Salt Lake co-found- er liberal-to-modera- te lib appearances by national leaders of the general theoretic bent of Elliot Richardson. Casper represents a professional, if not ideological, reaching out. His is the glamour of a sports legend: the type of glamour that, before every Democrat in sight endorsed Kaiparowits, actor Robert Redford was wont to s cabal. provide the Both should be effective. Callister is an integral part of the Salt Lake establishment. Casper rubs elbows on a tour with some of the highest money earners in America. But, as importantly, their presence in the Romney camp signals the onset of a Republican coalescense behind their candidate. Contrast that with the Democratic disarray attendant to Calvin L. Ramptons bombshell announcement that he would not seek an unprecedented fourth term. A candidate backed by a united major party, all things being equal, normally will defeat an aspirant whose party is fragmented. Be there doubt, Moss-Owen- refer to 1974s Garn-OweSenate contest. Much of the credit for these developments' ns must be accorded Romneys campaign manager, native Utahn Clyde Pearce. Currently on unpaid leave from the Attorney Generals office, Pearce has a strong background in practical politics, highlighted by his experience with Decision Making Information, a California polling organization whose corporate president is Dick Wirthlin, also a Utah product. If, as now appears likely, the Romney effort can build bridges between conservatives and' moderates and between politicians and nonpoliticians, it will have an important bearing not only upon the GOP nomination, but upon the November election as well. For myself, I welcome these harbingers. After twelve years of a Democratic Administration, it is high time for a new broom. I cheer the indications that a Republican is organizing the kind of team requisite to that result. |
