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Federal Reserve Bank OF DALLAS Dallas, Texas, January 9, 1952 REAL ESTATE CREDIT AMENDMENT TO REGULATION X To all Persons Engaged in the Business of Extending Real Estate Credit in the Eleventh Federal Reserve D istrict: There is quoted below the text of a statement issued today by the Board of Governors of the Federal Reserve System relating to an amendment to Regulation X (as amended September 1, 1951). “ The Board of Governors of the Federal Reserve Sys tem announced today an amendment to Regulation X — Real Estate Credit— designed to clarify the position of vet erans and other persons financing the purchase of a home in cases where secondary loans are combined with loans made, insured, or guaranteed by a department or agency of the United States Government/’ The text of the amendment is set forth on the reverse side of this letter. This bank and its branches at El Paso, Houston, and San Antonio will be glad to furnish any information which may be desired concerning the Regulation. Yours very truly, R. R. GILBERT President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) REAL ESTATE CREDIT AMENDMENT NO. 9 TO REGULATION X Issued by the Board of Governors of the Federal Reserve System with the concurrence of the Housing and Home Finance Administrator Regulation X is hereby amended as follows, effective Janu ary 9, 1952: 1. Add the following new subsection (p) to Section 5: (p) Certain Government-aided Loans.—The prohibitions of subsections (a) and (b) of section 4 of this regulation shall not apply to a secondary loan to a borrower when the primary loan is made, insured, or guaranteed, in whole or in part, by any depart ment or agency of the United States, if (1) the total amount of the primary and secondary loans does not exceed the maximum loan which legally could have been made, insured, or guaranteed by the department or agency for the borrower, and (2) the de partment or agency approves the making of the secondary loan.
@FedFRASER