Laws and Regulation Acts

Question 1

Federal Reserve Act of 1934

Answer 1

Established the Federal Reserve Systme and authourzed federally chartered commercial banks real estate loans

Question 2

Federal Farm Loan Act of 1916

Answer 2

Formed the federal Land Bank Associations as units of the Federal Land Bank system, which was given funds to generate loans to farmers via the sale of bonds.

Question 3

Reconstruction Finance Act of 1932

Answer 3

Created the Reconsruction Finance Corporation, designed to provide liquidity to commercial banks.

Question 4

Federal Home Loan Bank Act of 1932

Answer 4

Established the Federal Home Loan Bank Board and 12 regional banks to provide central credit facilities for home finance institutions that were members of the FHLB

Question 5

Home Owners Loan Act of 1932

Answer 5

This act produced two results: created the Mome Owner Loan Corporation with authority to purchase defaulted home mortgages and to refinance as manyas prudently feasible and (2) provided the basic lending authority for federally chartered savings and loan associations.

Question 6

National Housing Act of 1934

Answer 6

Authorized the creation of the Federal Housing Administration and Federal Savings and Loan Insurance Corporation.

Question 7

Servicemen’s Readjustment Act of 1944

Answer 7

Established within the Veterans Administration a mortgage guarnatee program for qualified veterans.

Question 8

Housing Act of 1949

Answer 8

Stated that the national housing goal was to provide a decent home and suitable living enviorment for every American Family

Question 9

Consolidated Farmers Home Administration Act of 1961

Answer 9

Extended authority for the agency to amke mortgage loans to nonfarmers in rural areas.

Question 10

Housing and Urban Development Act of 1965

Answer 10

Consolidated many federal housing agencies into the new Department of Housing and Urban Development which was given expanded authority.

Question 11

Interest Rate Adjustment act of 1966

Answer 11

Authorized the setting of maximum savings rates nad the creation of a differential between the savings rates o commercial banks and thrift institutions.

Question 12

Fair Housing Act of 1968

Answer 12

Prohibited discrimination in real estate sales and mortgage lending based on race, color, national orgin, or religion.

Question 13

Interstate land sales full Disclosure Act of 1968

Answer 13

Requiredcomplete and full disclosure of all facts regarding interstate sale of real estate.