Article Text
Halted By Maryland orfice Of Home Owners' Loan Since July 24 VALUE OF PROPERTY PUT National Bank Receivers Now Can Exchange Liens For Bonds Since the Home Owners' Loan poration began July the office for Maryland has been for halting 565 mortgage sponsible foreclosure involving valued $1,755,464. David property State of the corpomanager yesterday. Up and including had made loans, total$133,667. most instances these involved forclosures. Based On Loans The halting other foreclosure proceedings based 551 approved. properties have been appraised. but the bonds and checks called for been given out. These approved The office received cations for loans totaling The has rejected 123 applications for loans. Stand Reversed Mr. Stiefel received word yesterday that Comptroller Currency. had reversed stand taken in August, and now advised general for banks exchange gages for bonds the Home Owners' Loan The change in the position taken by Mr. known letter him William Stevenson, the Federal Home Loan Bank Board copy communication was sent to Mr. Stiefel. Three In Receivership Three national banks in Maryland gone into since the spring. They the National Bank of Frostburg. the of Hampand the First National Bank Kitzmillerville. pointed out in Mr. O'Conor's that having jurisdiction receivership would have approve any exchanges made and that approval from office should be obtained before sititution of court ceedings. 106 Employed Regularly The main the branch the loan corporation cated branches Cumberland, Easton and Towson. There 106 persons employed regularly. fee basis. addition group. there unpaid advisory committee of three members each county. Explaining the set-up of his Mr. Stiefel said operated with deficit incoming money paid directly to headquarters Washington.