OISEII.GARPEIITER I.UMBER CO. Ul4olplak

Douglas fir, Redwood and Pine

9935 Santa Monlca Boulevard

Ted Olsen BEVERLY HILIS, CllLIF. BRadshaw 2-6651 Henb Carpenter

gages.

The FHA commissioner should be given specific authority to suspend dealers, salesmen and others who "abuse the home repair program."

A borrower should not be permitted by multiple loans to borrow in excess of $3,OOO "or wltatever top loan amount Congress may determine" to finance the repair of a single family structure. The present Title I limit is $2,500 but the Administration has asked for an increase to $3,000.

The criminal code should be strengthened to prevent the misuse of the initials FHA as well as the full title for the agency in advertising or corporate names in such a way as to suggest "that a dealer or product is connected with or approved by the FHA."

No Title I loan should be permitted on a new'house until six months after the l-rouse has been completed. This is supposed to prevent abuses involving the use of Title I loans to provide the downpayment for the purchase of a new home or other "tie-in arrangements," according to Mr. Mason.

Lenders should be required to carry through "to a judgment" a claim against a borrou'er tvho goes into default on a repair loan insured by the FHA before the lender submits a claim to the Federal agency to make good on the loan.

The FHA chief also recommended that the FHA unit in charge of Title f be "enlarged and strengthened"; the lender tell the consumer in advance the amount of loan and the finance charges and warn him of possible abuses; that all home repair salesmen be required' to certify to the absence of "selling abuses"; and that the FHA a "vigorous educational campaign to enlighten consumers who make purchases financed under repair program."

J. R. Jones FHA Advisor

undertake and warn the home

Norman P. Mason, acting commissioner of the Federal Housing Administration, announces the appointment of J. R. Jones, vice president of the Security-First National Bank of Los Angeles, as a member of the FHA industry advisory committee. This committee will recommend improvements in FHA programs and activities.

Block Diomond Co., Socrqmenlo, Cclif., Purchoses New Culter Heods

M. B. Kibbey, sales manager for the Black Diamond Company of Sacramento, California, has advised that his company has just purchased from the Jones and Orth Cutter Head Company, a set of their very latest cutter heads (containing 16 knives in each head) for the manufacture of 6/4 resawn panel in No. 2 and Better Common grade, which is a specialty of the Black Diamond firm. Mr. Kibbey states they shipped over 2,000,000 feet of this stock last year, most of it going into the Southern part of the United States. He states that the Black Diamond firm is constantly working toward the production of the finest Knotty Pine paneling and that their recent purchase is a definite step in that direction.