Show FUNDS FOR HOMES SUPPLIED BY BANKS by ROME C stephenson president america american bankers association A LARGE portion of the funds re acquired quiren in home building always has been furnished by banks they have shown con scantly a deep in terest in the per firmance for mance of this feature of national development up on it rests much ot of our count country rys a f future u t u r e stability and any con tribu tion to its ad van cement redounds to the advantage of all R C r stephenson so banking has never permitted its operative cooperative co attitude toward home building to lessen practically all banks now accept sav say ings deposits which can well be turned to the advantage of the home builders the construction of individual dwell ings requires a large amount of fidanc ing and is a thoroughly commendable enterprise necessarily the aid given to home builders is governed by the sound banking rules which have grown out of the years of experience and the constant studies of bank practices all of the efforts made to secure broader real estate loan privileges to adjust resources to make it possible to lend larger sums for long terms the standardization of mortgage loan for mulas and the actual lending of vast sums on mortgage notes evidence the desire of banks to contribute a full measure of support to the home build Ingino ing movement this Is true of all class es of banks but even in a more marked degree of those whose deposits are largely in the form ot of savings and whose loans are primarily for building or home purchasing purposes both side sides protected the process through which bank loans are made on real estate la Is as simple as the nature of such an im transaction will permit when money la Is advanced the lender must know that repayment will be made the specified time likewise the borrower wants to be assured that after he has figured the loan on the basis of his conservatively anticipated ability to pay he will not be required to do more that he will not be disturbed in his et ef forts to work out of his obligations under those terms whether his agree ment is to repay the entire loan ID in three or five years or on a monthly or yearly basis he wants the assurance that no additional burdens will be im posed upon him all of this Is settled definitely in advance there la Is no mystery about any of the details and when the negotiations are comp complete fete the borrower knows just what he may expect and what he will be required to do to meet his obligations loans made to persons who wish to acquire homes are not necessarily building loans one may wish to pur chase a home already constructed in this form of transaction bank loans are used very freely because it is the only kind of a real estate loan some classes of banks may make others of course may lend upon real estate with im prove menta ments uncompleted and advance funds as the construction progresses different styles in home financing have developed in the various states and banks have tried to adapt their bacill ties to the needs whatever character of assistance is required in III any par nicular instance usually can be found in some bank in the local community among banks and borrowers tor for home acquisition purposes a long established and thoroughly tested relation ship exists banks are not the only agencies through which such funds are available they do not embody all the spirit of helpfulness which abounds however through the years of their operation cooperation their aid has been of un questioned value to the home builders whose efforts to establish a permanence tor for themselves have received constant encouragement bankers everywhere are ready to counsel with their custom ers about their home building plans and to assist to the extent of their ability this is being done constantly and the many advantages of it are not without recognition r farm arm service by a bank A farm service department was inaugurated a year ago by a bank in olympia washington and a farm advisor appointed close co operation Per atlon has been maintained with the state college extension service work in dairying 1 Is car ried on in conjunction with the dairy herd improvement assoria tion also a pasture contest was held in cooperation with the four banks in the county which offered prizes amounting to work la in poultry was carried on in compera tion with the co operative poultry association and assistance wets wd given in organizing an economic conference for the benefit of berry growers the farm advisor of the bank Is 1 active in the agricultural council of the county composed of farm and other organizations interested in agricultural develop ment and also in the farmers market six hundred farm busl busi ness analysis blanks were distria ut d while farm account books and poultry record books were also pro vided to farmers and have been h lapful in starting many farmers in keeping business records ar |