CRITICAL SURVEY OF DIRECT FEDERAL REGULATION - A REVIEW OF FEDERAL MORTGAGE LENDING AND INSURING PRACTICES.

The article presents a brief history on the federal mortgage lending and insuring practices in the U.S. The federal government has been a involved in the mortgage industry, beginning with the creation in 1932 of the Home Loan Bank System. Later, the Federal Farm Mortgage Corporation, the Home Owners' Loan Corporation and the RFC Mortgage Company were created to aid homeowners during the Great Depression. The Federal Housing Administration was the next step and struggled to find the proper amount of involvement in the housing markets.