,calae ,n pnSER yeao OROERg

Douglos Fir qnd Redwood

Kiln Dried Gleqrs

. Douglos Fir Commons

Cleqrs & Exposed Beoms

. Ponderoso Pine - Plywoods

. Simpson Producls - Sheetrock

,,SATISFIED CUSTOilTERS

OUR GR.EATEST ASSET"

MODERN DRY KILN

Gorgo Hondling ond Whorfing

G(llIS(lLIIIATEII LUTTBER

FEDERAL HOUSING ADMINISTRATION

714 West Olympic Blvd. Los Angeles 15, Calif. June 12,1958

OFFICE OF DIRECTOR

Los Angeles, Calif.

SPECIAL IETTER,

TO: ALL APPROVED MORTGAGEES AND PERSONS HAVING BUSINESS WITH FHA.

On May 27, 1958, this office issued a SPECIAL LETTER which quoted a Washington press release which was transmitted to all metropolitan newspapcrs as of that date. The press release quoted, advised that this FHA Insuring Office had been instructed by Washington headquarters to suspcnd the issuance of commitments to inBurc mortgages efrective M,ay 27,1958, except with spccific authority from Washington.

On June +, 1958, Washington headquarters advised this office that the neccssary increased insurance authorization had been approved and that this office would resume regular issuance of commitments to insure mo,rtgages efiective June 4, 1958. The Los Angeles Insuring Office acted immediately upon receipt of this advice and on June 6, 1958, had completed mailrqg to the mortgagees all of the commitments which had been withheld from release pu.rsuant to the May 27, l95f, directive. Issuance of commitments in the regular manner is now being accomplished and there is now no delay in the receipt of such comrnitments by reason of the temporary suspension.

This letter is being sent addresses so that they have definite and direct inJormation from this office concerning this matter,

CORRECTION OF CIRCULAR LETTER NO.4IA

Our Circular Letter No. 4lA issued for January 1958, under the heading of Reports of Prepayment-Revision to FHA Fcrrn 23M, defined the meaning of "calendar year" as being any consec'utive twelve-month period. This definition should be corrected to read as follows:

"Calendar Year" as used in corurection with prepaynrents on insured m,ortgages is defined as January I through Deceanber 31.

NORMAN M. LYON Director.