KENTUCKY REPORT

Thompson

tFHE Reagan administration will proI pose legislation this month or next that will allow creation of a private sector financial instrument designed to pump more investment money into the mortgage market.

It will be known as the Trust For lnvestment Mortgages or TIMS which would actually be a pool of conventional mortgages that are sold as bonds. This will be competitive with governmentinsured FHA mortgages marketed this r.r'ay. The White House bill u'ill contain mostly revisions in tax law. Several other barriers on TIMS have already been removed to regulatory action. The outlook is good. Approval likely. Once the measure is signed by Reagan, Labor Dept. will allou'pension funds to invest in TIMS. We will keep you posted. executive vice president ttlf'S A whole New Ballgame" will I be the theme of the 1983 Summer Conference, June 9-12, at Grove Park Inn. Asheville. N.C.

We thought this was such a good bit of news for the money market and the housing fund that you should have it as soon as possible.

Compbell become ill on o vacation trip lo Florido ond v'os recaperoting at his home at press time<d.

The conference will concentrate on the challenges facing the building material in- dustry for the remainder of the 80s. Our industry has undergone marny changes since I 980. How it reacts to these changes will dictate our scale of success. Speakers and workshops will focus on helping retailers to cope with these changes.

The Young Carolinians ldea Exchange is scheduled for July 28-30 at Fairfield Inn, Sapphire Valley, N.C.