An Analysis of the Operation of Title I of the Federal Housing Administration Act Page: 79
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79
six months after customer default (the earliest installment
not fully paid on the original terms); otherwise, the ac-
count will not be repurchased.2 Thus, i a two months'
extension is granted, the time limit would be shortened to
four months. Therefore, the lending institution should
watch delinquencies so that claims will be submitted within
the A time limit.
The period which a customer is in military service is
excluded in computing the time for filing a laim. The lend-
ing institution must secure from the customer or a member
of his family, a letter giving date of his i noduction into
military service.3
Preparation of 01aims
Before submitting an A claim, the insured institu-
tion should arrange all correspondence and adjuster's re-
ports in date order (latest date on top) and review all
do cu ints to determine (1) if documents are dated prior
to delivery of proceeds, (2) if all documents are signed
and properly endorsed, and (3) if all essential informa-
tion is included in the credit application.
The insured institution aat prepare collection
resume in triplicate on blank heavy white paper measuring
2nderal hunting Admnistration, Po ert I movement
loans under Title I of the National lonst Actn as ,
Xbid., p. 29.
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Granstaff, Shelie Monroe. An Analysis of the Operation of Title I of the Federal Housing Administration Act, thesis, 1947; Denton, Texas. (https://digital.library.unt.edu/ark:/67531/metadc53505/m1/85/: accessed April 19, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; .