MARVIN MANDEL, Governor

3847

FOR the purpose of urging a certain person to institute a
study of the distribution of certain federally
guaranteed mortgage funds among the various counties
in this State; and urging that this study should
include both the number of the loans as well as the
dollar amount of each loan.

WHEREAS, Mortgage lenders in this State have
borrowed heavily from [[federal agencies during the
recent tight money period]] funds guaranteed by the
various agencies of the Federal Government; and

WHEREAS, A preference may exist on the part of
lenders for making large mortgage loans, the result of
which is that the money tends to flow disproportionately
to those areas of the State where higher—priced housing
is located; and

WHEREAS, This may result in an inequitable scarcity
of federally—insured mortgage money in low income
communities, in deteriorating neighborhoods, and in urban
and rural areas of the State; and

WHEREAS, Because of these indicators, there may be
implied a pattern of neglect and discrimination against
the lower—income segment of the housing market; and

WHEREAS, There is a need to determine the
distribution and economic concentration of FHA and
VA-insured mortgage funds in this State; now, therefore,
be it

RESOLVED BY THE GENERAL ASSEMBLY OF MARYLAND, That
the Secretary of Economic and Community Development
institute a study of the distribution of Federal Housing
Administration and Veterans Administration insured
mortgages among the various counties in this State; and
be it further

RESOLVED, That this study should include both the
number of FHA and VA—insured loans as well as the dollar
amount of each loan; and be it further

RESOLVED, That copies of this Resolution be sent to
Joseph G. Anastasi, Secretary of Economic and Community
Development, 2525 Riva Road, Annapolis, Maryland 21401;
and the Honorable Marvin Mandel, Governor.

Approved April 22, 1975.