FHA Birthday Celebration Highlights 25 Years of Home Finance
President Eisenhower praised the Federal Housing Administration at a Washington birthday event attended by about 1,250 people. The FHA has funded five million home purchases and 22 million home improvement loans in 25 years, with a robust financial record and substantial private-government partnership. Congress prepares to approve a reduced housing bill of 1.37 billion, easing down payments on FHA mortgages and trimming other programs while debt limits rise.