fidelity
federal
sav
loan
assn
de
la
cuesta
argued
april
decided
june
section
home
owners
loan
act
hola
empowers
federal
home
loan
bank
board
board
regulations
may
prescribe
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organization
operation
regulation
federal
savings
loan
associations
pursuant
authorization
board
issued
regulation
providing
federal
savings
loan
association
continues
power
include
loan
instrument
clause
provision
permits
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declare
entire
balance
loan
immediately
due
payable
property
securing
loan
sold
otherwise
transferred
without
association
prior
written
consent
preamble
regulation
stated
practices
federal
savings
loan
associations
shall
governed
exclusively
federal
law
association
shall
bound
subject
conflicting
state
law
imposes
different
requirements
appellees
purchased
california
real
property
one
borrowed
money
appellant
fidelity
federal
savings
loan
association
fidelity
borrowers
given
fidelity
deeds
trust
property
deed
contained
clause
fidelity
received
prior
notice
purchases
proceeded
enforce
clauses
accelerate
payment
loans
paid
instituted
nonjudicial
foreclosure
proceedings
appellee
filed
suit
fidelity
california
superior
asserting
fidelity
exercise
clauses
violated
principles
announced
wellenkamp
bank
america
cal
limited
lender
right
exercise
clause
cases
lender
demonstrate
transfer
property
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security
superior
consolidated
actions
granted
fidelity
motion
summary
judgment
ground
federal
government
totally
occupied
regulation
federal
savings
loan
associations
california
appeal
reversed
holding
wellenkamp
controlling
federal
law
expressly
impliedly
state
law
held
board
regulation
conflicting
state
limitations
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federal
savings
loan
associations
thus
bars
application
wellenkamp
rule
associations
pp
general
principles
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state
law
conflicts
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law
inapplicable
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real
property
matter
special
concern
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regulations
less
effect
federal
statutes
congress
empowered
administrator
promulgate
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intended
state
law
effect
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statutory
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acted
arbitrarily
pp
language
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regulation
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preamble
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clearly
show
board
intent
wellenkamp
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conflict
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regulation
simply
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federal
savings
loan
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include
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contracts
enforce
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security
property
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compliance
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rule
may
physical
impossibility
rule
forbids
federal
savings
loan
association
enforce
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option
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given
board
rule
therefore
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purpose
pp
board
acted
within
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authority
issuing
regulation
language
legislative
history
hola
indicate
board
authorized
regulate
lending
practices
federal
savings
loan
associations
congress
delegated
power
board
expressly
purpose
creating
regulating
association
ensure
remain
financially
sound
able
supply
financing
home
construction
purchase
consistent
purpose
board
reasonably
exercised
authority
promulgating
regulation
pp
blackmun
delivered
opinion
burger
brennan
white
marshall
joined
filed
concurring
opinion
post
rehnquist
filed
dissenting
opinion
stevens
joined
post
powell
took
part
consideration
decision
case
ernest
leff
argued
cause
appellants
briefs
andrew
katz
deputy
solicitor
general
shapiro
argued
cause
federal
home
loan
bank
board
et
al
amici
curiae
urging
reversal
brief
solicitor
general
lee
carter
phillips
maud
mater
gary
smuckler
marilyn
nathanson
robert
boehmer
argued
cause
appellees
brief
john
meyer
briefs
amici
curiae
urging
reversal
filed
daniel
goldberg
matthew
ash
american
savings
loan
league
aaron
peck
steven
mcmurry
michael
grzanka
howden
fraser
terry
kelly
daniel
willick
league
savings
associations
briefs
amici
curiae
urging
affirmance
filed
state
michigan
et
al
frank
kelley
attorney
general
michigan
louis
caruso
solicitor
general
harry
iwasko
robert
ianni
assistant
attorneys
general
john
steven
clark
attorney
general
arkansas
frederick
campbell
assistant
attorney
general
robert
corbin
attorney
general
arizona
anthony
ching
solicitor
general
macfarlane
attorney
general
colorado
marshall
snider
assistant
attorney
general
carl
ajello
attorney
general
connecticut
tyrone
fahner
attorney
general
illinois
linley
pearson
attorney
general
indiana
robert
stephan
attorney
general
kansas
robert
alderson
first
deputy
attorney
general
james
tierney
attorney
general
maine
warren
spannaus
attorney
general
minnesota
william
allain
attorney
general
mississippi
michael
greely
attorney
general
montana
gregory
smith
attorney
general
new
hampshire
jeff
bingaman
attorney
general
new
mexico
rufus
edmisten
attorney
general
north
carolina
millard
rich
deputy
attorney
general
john
matthis
special
deputy
attorney
general
robert
wefald
attorney
general
north
dakota
william
brown
attorney
general
ohio
dave
frohnmayer
attorney
general
oregon
daniel
mcleod
attorney
general
south
carolina
john
easton
attorney
general
vermont
kenneth
eikenberry
attorney
general
washington
bronson
la
follette
attorney
general
wisconsin
secretary
business
transportation
housing
agency
state
california
george
deukmejian
attorney
general
california
arthur
de
goede
assistant
attorney
general
joseph
deputy
attorney
general
gary
kurtz
california
association
realtors
et
al
john
hetland
charles
hansen
consumer
committee
protect
mortgage
rights
irwin
alterman
georgia
association
realtors
catherine
kimmel
national
association
realtors
william
north
robert
butters
charles
bether
et
al
peter
gregora
james
weinberg
robert
winslow
bruce
jolly
filed
brief
credit
union
national
association
amicus
curiae
justice
blackmun
delivered
opinion
issue
case
effect
regulation
issued
federal
home
loan
bank
board
board
permitting
federal
savings
loan
associations
use
clauses
mortgage
contracts
appellees
dispute
board
intent
statutory
authority
displace
restrictions
imposed
california
exercise
clauses
board
independent
federal
regulatory
agency
formed
thereafter
vested
plenary
authority
administer
home
owners
loan
act
hola
stat
amended
et
seq
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supp
iv
section
hola
supp
iv
empowers
board
rules
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may
prescribe
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known
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savings
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associations
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regulations
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corporate
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people
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sd
cal
board
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concerned
increasing
controversy
authority
federal
savings
loan
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exercise
clause
contractual
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permits
lender
declare
entire
balance
loan
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specifically
board
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ability
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security
number
adverse
effects
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security
stability
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associations
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security
property
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person
whose
ability
repay
loan
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maintain
property
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elimination
due
sale
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flow
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income
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associations
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forced
charge
higher
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rates
loan
charges
home
loans
generally
elimination
due
sale
clause
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impair
ability
federal
associations
sell
home
loans
secondary
mortgage
market
making
loans
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prices
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flow
new
funds
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loans
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fed
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board
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issued
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cfr
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relevant
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federal
savings
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power
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matter
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borrower
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instrument
whereby
association
may
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property
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loan
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except
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provided
section
exercise
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option
hereafter
called
clause
shall
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loan
contract
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borrower
shall
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contract
appellant
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chartered
board
pursuant
hola
fidelity
principal
place
business
glendale
cal
appellees
de
la
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appellee
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suit
superior
california
orange
county
asserted
principles
announced
california
wellenkamp
bank
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cal
fidelity
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california
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federal
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pan
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real
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designed
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nullified
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compliance
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regulations
physical
impossibility
florida
lime
avocado
growers
paul
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law
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accomplishment
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congress
hines
davidowitz
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also
jones
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steel
new
york
labor
relations
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inapplicable
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concern
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valid
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california
law
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california
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lime
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growers
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california
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practice
board
approved
views
critical
financial
stability
association
see
schott
advisory
opinion
limiting
availability
option
board
considers
essential
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thrift
industry
state
created
obstacle
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hines
davidowitz
cf
franklin
nat
bank
new
york
finding
clear
conflict
federal
law
authorized
national
banks
receive
savings
deposits
specifically
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banks
new
york
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state
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reg
emphasis
added
iv
question
remains
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board
acted
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issuing
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language
history
hola
convince
us
congress
delegated
board
ample
authority
regulate
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practices
federal
savings
loans
act
purposes
consistent
purposes
hola
product
great
depression
intended
provide
emergency
relief
respect
home
mortgage
indebtedness
time
many
half
home
loans
country
default
conf
see
cong
rec
remarks
hancock
remarks
reilly
home
owners
loan
act
hearings
subcommittee
senate
committee
banking
currency
senate
hearings
statement
horace
russell
one
drafters
bill
general
counsel
federal
home
loan
bank
board
atlanta
local
institutions
previously
supplied
funds
finance
homes
ceased
business
discontinued
loans
half
counties
country
containing
almost
total
population
without
institutions
see
see
also
home
owners
loan
act
hearings
house
committee
banking
currency
house
hearings
statement
william
stevenson
chairman
federal
home
loan
bank
board
comment
pac
savings
loans
failed
causing
losses
million
value
savings
associations
order
ameliorate
conditions
congress
enacted
hola
radical
comprehensive
response
inadequacies
existing
state
systems
conference
federal
sav
loan
assns
stein
summarily
aff
act
provided
creation
system
federal
savings
loan
associations
regulated
board
ensure
vitality
permanent
associations
promote
thrift
people
cooperative
manner
finance
homes
homes
neighbors
see
also
cong
rec
remarks
bulkley
thus
act
congress
gave
board
plenary
authority
issue
regulations
governing
federal
savings
loans
order
provide
local
mutual
thrift
institutions
people
may
invest
funds
order
provide
financing
homes
board
authorized
rules
regulations
may
prescribe
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organization
incorporation
examination
operation
regulation
associations
known
federal
savings
loan
associations
federal
mutual
savings
banks
issue
charters
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primary
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supp
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directed
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governed
board
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state
deemed
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see
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first
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sav
loan
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massachusetts
tax
observing
hola
protects
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associations
forced
state
regulatory
mold
thus
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language
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congress
expressly
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approved
board
promulgation
regulations
superseding
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law
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point
various
sections
hola
explicitly
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law
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board
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law
although
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aspects
state
law
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savings
loans
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imply
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intended
state
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rather
congress
invested
board
broad
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regulate
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board
need
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existing
state
law
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supp
iv
read
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law
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see
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nlrb
furthermore
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loans
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law
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law
needlessly
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decline
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render
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nugatory
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offending
rule
parts
statute
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given
effect
american
textile
mfrs
institute
donovan
see
also
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searle
cf
franklin
nat
bank
new
york
find
indication
congress
intended
make
phase
national
banking
advertising
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local
restrictions
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express
language
several
instances
exigencies
times
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enacted
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history
concededly
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sparse
history
confirm
reading
statutory
language
board
plenary
authority
regulate
operations
federal
savings
loans
attempting
provide
relief
man
lose
home
congress
set
general
framework
left
many
details
board
house
hearings
apr
statement
william
stevenson
chairman
federal
home
loan
bank
board
thus
references
board
broad
discretion
regulate
newly
created
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savings
loans
appear
throughout
legislative
history
nowhere
suggestion
intent
somehow
limit
board
authority
chairman
stevenson
testimony
hola
hearings
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act
contemplated
federal
law
govern
terms
loan
instruments
used
federal
savings
loans
discussing
hola
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loan
associations
throughout
say
thrift
associations
loan
piece
real
estate
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house
hearings
apr
chairman
replied
may
true
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good
many
ways
good
many
thrift
associations
dire
straits
loaned
property
way
yonder
value
money
tied
hotels
apartment
houses
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kind
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situation
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similarly
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concern
expressed
senate
hearings
act
prohibit
borrowers
obtaining
financing
renting
property
chairman
stevenson
observed
matter
regulation
covered
regulation
bill
senate
hearings
asked
whether
board
authority
promulgate
regulation
stevenson
replied
federal
home
loan
bank
board
choose
make
kind
regulation
put
great
many
local
private
institutions
put
kind
clause
loans
ibid
subsequent
debates
confirm
congress
accepted
chairman
stevenson
offer
furnished
board
broad
power
regulate
federal
savings
loans
thus
representative
luce
ranking
minority
member
house
committee
banking
currency
observed
federal
savings
loan
associations
formed
accordance
best
practice
feel
sure
may
rely
upon
chairman
stevenson
board
carry
promise
cong
rec
contemplated
bill
us
put
machinery
hands
home
loan
bank
board
give
board
great
power
administer
act
representative
luce
continued
see
also
leave
things
limitations
conversion
federal
home
loan
banks
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savings
loans
judgment
board
prudent
course
leave
judgment
board
imposing
maximum
rate
interest
bill
percent
upon
borrow
percent
upon
lend
trust
board
get
lower
rates
borrowing
make
lower
rates
lending
opportunity
may
come
colloquy
sens
hebert
bulkley
observing
board
discretion
determining
savings
loans
chartered
areas
existing
local
thrift
institutions
thus
hola
simply
incorporate
existing
local
loan
practices
rather
congress
delegated
board
broad
authority
establish
regulate
uniform
system
savings
loan
institutions
establish
force
government
behind
national
charter
house
hearings
apr
statement
chairman
stevenson
apr
board
exercised
discretion
regulating
comprehensively
operations
associations
including
lending
practices
specifically
terms
loan
instruments
noted
savings
loan
mortgage
lending
practices
critical
aspect
operation
board
unquestionably
jurisdiction
although
board
power
promulgate
regulations
exempting
federal
savings
loans
requirements
state
law
may
boundless
case
need
explore
outer
limits
board
discretion
difficulty
concluding
regulation
within
scope
board
authority
hola
consistent
act
principal
purposes
congress
delegated
power
board
expressly
purpose
creating
regulating
federal
savings
loans
ensure
remain
financially
sound
institutions
able
supply
financing
home
construction
purchase
thus
testifying
house
hearings
hola
board
chairman
observed
new
corporations
propose
set
want
set
sound
basis
material
assistance
home
financing
time
properly
managed
house
hearings
apr
relevant
house
senate
reports
referred
federal
associations
permanent
institutions
regulation
promulgated
purposes
mind
board
determined
clauses
valuable
often
indispensable
source
protection
financial
soundness
federal
associations
continued
ability
fund
new
home
loan
commitments
cfr
specifically
board
concluded
clause
important
part
mortgage
contract
elimination
adverse
ffect
earning
power
financial
stability
federal
associations
impair
ability
federal
associations
sell
loans
secondary
markets
reduce
amount
funds
available
potential
home
buyers
generally
cause
rise
home
loan
interest
rates
schott
advisory
opinion
board
analysis
proceeds
follows
observes
federal
associations
practice
borrowing
short
lending
long
obtaining
funds
basis
investing
real
estate
loans
typically
term
combined
rising
interest
rates
increased
cost
funds
institutions
reduced
income
exercising
clauses
enables
savings
loans
alleviate
problem
replacing
loans
loans
prevailing
interest
rates
thereby
avoid
increasing
interest
rates
across
board
see
moreover
board
determined
restrictions
like
wellenkamp
doctrine
lengthen
expected
maturity
date
lender
mortgages
thus
reducing
marketability
secondary
mortgage
market
result
board
fears
financial
stability
federal
associations
california
eroded
flow
home
loan
funds
california
reduced
schott
advisory
opinion
admittedly
wisdom
board
policy
decision
uncontroverted
neither
arbitrary
capricious
judges
neither
function
within
expertise
evaluate
economic
soundness
board
approach
promulgating
regulation
board
reasonably
exercised
authority
given
congress
ensure
financial
stability
local
mutual
thrift
institutions
people
invest
funds
provide
financing
homes
hola
supp
iv
board
intended
conflicting
state
restrictions
practices
like
california
wellenkamp
doctrine
inquiry
ends
accordingly
hold
board
regulation
bars
application
wellenkamp
rule
federal
savings
loan
associations
judgment
appeal
reversed
ordered
footnotes
clause
used
many
loan
instruments
uniform
mortgage
instrument
developed
federal
home
loan
mortgage
corporation
federal
national
mortgage
association
paragraph
appears
two
deeds
trust
issue
case
reads
transfer
property
assumption
part
property
interest
therein
sold
transferred
borrower
without
lender
prior
written
consent
excluding
creation
lien
encumbrance
subordinate
deed
trust
creation
purchase
money
security
interest
household
appliances
transfer
devise
descent
operation
law
upon
death
joint
tenant
grant
leasehold
interest
three
years
less
containing
option
purchase
lender
may
lender
option
declare
sums
secured
deed
trust
immediately
due
payable
lender
shall
waived
option
accelerate
prior
sale
transfer
lender
person
property
sold
transferred
reach
agreement
writing
credit
person
satisfactory
lender
interest
payable
sums
secured
deed
trust
shall
rate
lender
shall
request
lender
waived
option
accelerate
provided
paragraph
borrower
successor
interest
executed
written
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agreement
accepted
writing
lender
lender
shall
release
borrower
obligations
deed
trust
note
lender
exercises
option
accelerate
lender
shall
mail
borrower
notice
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accordance
paragraph
hereof
notice
shall
provide
period
less
days
date
notice
mailed
within
borrower
may
pay
sums
declared
due
borrower
fails
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sums
prior
expiration
period
lender
may
without
notice
demand
borrower
invoke
remedies
permitted
paragraph
hereof
app
emphasis
added
regulation
codified
initially
cfr
see
fed
reg
even
adopting
regulation
board
interpreted
cfr
regulation
promulgated
requires
loan
instruments
provide
full
protection
federal
association
authorizing
federal
savings
loans
exercise
provisions
despite
state
law
contrary
clauses
help
ensure
full
protection
lender
see
board
advisory
opinion
resolution
schott
mission
federal
sav
loan
assn
schott
advisory
opinion
pp
cd
cal
july
reprinted
exhibit
defendants
memorandum
points
authorities
opposition
plaintiffs
motion
preliminary
injunction
paragraph
also
part
uniform
mortgage
instrument
developed
federal
home
loan
mortgage
corporation
federal
national
mortgage
association
see
supra
paragraph
reads
full
uniform
deed
trust
governing
law
severability
form
deed
trust
combines
uniform
covenants
national
use
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limited
variations
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constitute
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security
instrument
covering
real
property
deed
trust
shall
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law
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property
located
event
provision
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deed
trust
note
conflicts
applicable
law
conflicts
shall
affect
provisions
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trust
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given
effect
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provision
end
provisions
deed
trust
note
declared
severable
app
complaint
also
included
slander
count
alleging
fidelity
maliciously
published
false
charges
appellee
default
deed
trust
addition
appeal
noted
two
three
deeds
trust
issue
executed
prior
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date
therefore
reasoned
board
regulation
applicable
loan
instruments
state
law
respect
deeds
see
cal
app
cal
appeal
refused
ascribe
weight
absence
third
deed
trust
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described
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much
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state
law
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general
use
provision
containing
language
federal
savings
loan
associations
approval
board
persuasively
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recognition
board
federal
savings
loan
associations
state
law
govern
interpretation
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enforcement
security
instruments
cal
find
significant
fact
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covered
commercial
rather
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number
federal
district
courts
concluded
board
regulation
state
law
see
price
florida
federal
sav
loan
supp
md
state
regulation
first
federal
sav
loan
assn
peterson
supp
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florida
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california
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loan
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analogous
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colorado
law
bailey
first
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sav
loan
supp
cd
forecloses
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regulation
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federal
savings
loans
appeal
dism
glendale
federal
sav
loan
assn
fox
supp
cd
cal
final
summary
judgment
granted
supp
order
reversing
remanding
cert
pending
one
appears
agreed
california
appeal
see
holiday
acres
midwest
federal
sav
loan
state
regulation
clauses
addition
least
three
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courts
appeals
several
district
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one
state
ruled
various
board
regulations
supersede
state
law
see
conference
federal
sav
loan
assns
stein
judgment
regulatory
control
bank
board
federal
savings
loan
associations
pervasive
leave
room
state
regulatory
control
summarily
aff
first
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sav
loan
assn
greenwald
board
regulation
specifying
conditions
federal
savings
loans
must
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interest
escrow
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state
law
imposing
greater
interest
requirements
kupiec
republic
federal
sav
loan
board
regulation
supersedes
right
inspect
savings
loan
membership
list
meyers
beverly
hills
federal
sav
loan
board
regulation
field
prepayments
real
estate
loans
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associations
rettig
arlington
heights
federal
sav
loan
supp
nd
board
regulations
policy
statements
field
fiduciary
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loan
officers
lyons
sav
loan
assn
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home
loan
bank
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nd
board
regulation
displaces
state
law
regarding
branching
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people
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federal
sav
loan
supp
sd
cal
federal
regulation
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loans
field
kaski
first
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sav
loan
federal
law
supersedes
state
regulation
federal
savings
loans
lending
practices
see
derenco
benjamin
franklin
federal
sav
loan
board
regulation
authorizing
federal
savings
loans
maintain
reserve
accounts
tax
insurance
payments
occupy
field
reserve
accounts
state
law
requiring
payment
interest
accounts
cert
denied
cf
gulf
federal
sav
loan
assn
federal
home
loan
bank
board
authority
internal
management
federal
savings
loans
disputed
loan
agreement
provisions
cert
pending
practical
matter
however
mortgage
instruments
written
without
clauses
federal
home
loan
mortgage
corporation
federal
national
mortgage
association
purchase
bulk
mortgages
sold
secondary
mortgage
market
require
mortgages
buy
either
clause
provision
enabling
lender
demand
payment
loan
seven
years
marketability
mortgage
secondary
market
critical
savings
loan
thereby
sell
mortgages
obtain
funds
make
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home
loans
see
schott
advisory
opinion
kinzler
clauses
economic
legal
issues
pitt
rev
comment
state
rev
title
cfr
applies
loans
made
july
secured
home
occupied
occupied
borrower
prohibits
exercise
clause
four
circumstances
listed
uniform
mortgage
instrument
see
supra
lien
subordinate
lender
security
instrument
created
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appliances
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devise
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operation
law
death
joint
tenant
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three
years
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leads
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reject
appellees
contention
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appellants
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bound
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law
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property
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well
state
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moreover
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clause
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supra
typically
must
included
mortgage
federal
home
loan
mortgage
corporation
federal
national
mortgage
association
purchases
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mortgage
market
see
supra
paragraph
added
uniform
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instrument
elevate
state
law
federal
law
provide
uniform
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used
interstate
disputes
arose
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home
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curiae
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henry
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general
counsel
federal
home
loan
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corporation
see
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letter
arthur
burns
chairman
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governors
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reserve
system
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chrysler
brown
appellees
characterize
preamble
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binding
force
law
therefore
state
law
chrysler
point
conclude
supersedes
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state
law
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preamble
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construction
regulation
deference
clearly
order
udall
tallman
need
consider
therefore
effect
preamble
standing
alone
find
actual
conflict
federal
state
law
need
decide
whether
hola
board
regulations
occupy
field
law
entire
field
federal
savings
loan
regulation
see
hola
supp
iv
exempting
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mutual
savings
banks
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organized
state
law
numerical
limitations
state
law
establishment
branch
offices
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act
state
taxes
federal
savings
loans
greater
imposed
similar
local
mutual
cooperative
thrift
home
financing
institutions
cf
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home
loan
bank
act
exempting
federal
home
loan
bank
bonds
taxation
see
hola
supp
iv
providing
federal
mutual
savings
bank
formerly
institution
subject
state
laws
pertaining
discrimination
lending
based
neighborhood
geographic
area
requirements
imposed
consumer
credit
protection
act
et
seq
act
supp
iv
authorizing
federal
savings
loans
borrow
funds
state
mortgage
finance
agency
extent
state
law
permits
savings
loans
act
supp
iv
permitting
federal
associations
invest
lend
business
development
credit
corporation
incorporated
state
extent
savings
loans
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likewise
find
nothing
federal
home
loan
bank
act
relied
dissent
see
post
suggests
limit
board
authority
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regulations
state
law
provision
even
part
hola
speaks
board
authority
examine
state
laws
governing
operation
federal
home
loan
banks
federal
savings
loans
purpose
ensuring
dequate
protection
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home
loan
bank
making
collecting
advances
th
chapter
purport
constrict
board
power
regulate
operations
federal
savings
loans
negate
explicit
language
history
hola
april
president
roosevelt
wrote
congress
asking
legislation
protect
small
home
owners
foreclosure
relieve
portion
burden
excessive
interest
principal
payments
incurred
period
higher
values
higher
earning
power
doc
hearings
held
house
committee
banking
currency
april
senate
committee
banking
currency
april
bill
approved
house
april
see
cong
rec
passed
senate
june
see
president
signed
bill
law
june
see
less
two
months
first
requested
legislation
postenactment
history
hola
corroborates
board
broad
authority
regulate
lending
practices
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savings
loans
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financial
institutions
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interest
rate
control
act
pub
stat
congress
amended
hola
permit
state
mutual
savings
banks
obtain
federal
charters
debate
house
representative
hanley
introduced
amendment
providing
mutual
savings
banks
opting
convert
federally
chartered
institutions
continue
subject
state
law
pertaining
lending
discrimination
regulations
imposed
consumer
credit
protection
act
stat
amended
et
board
determined
state
law
imposed
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requirements
federal
law
see
cong
rec
representative
hanley
explained
way
course
use
state
law
requirements
federal
mutual
savings
banks
interpreted
erode
bank
board
plenary
authority
federal
savings
loan
associations
federal
law
alone
continue
govern
institutions
areas
branching
lending
authority
representative
germain
chairman
subcommittee
financial
institutions
supervision
regulation
insurance
house
committee
banking
finance
urban
affairs
chief
sponsor
bill
agreed
restriction
applies
converted
mutual
savings
banks
congress
way
intends
interfere
longstanding
power
bank
board
activities
federal
savings
loan
associations
including
branching
authority
amendment
agreed
ibid
similar
views
expressed
senate
debate
bill
senator
brooke
observed
intend
interfere
bank
board
plenary
authority
federal
savings
loan
associations
area
federal
law
alone
continue
govern
debate
house
depository
institutions
monetary
control
act
pub
stat
one
congressman
expressed
concern
permitting
federal
savings
loans
make
residential
real
estate
loans
extent
national
banking
associations
authorized
might
interpreted
making
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savings
loans
subject
state
requirements
cong
rec
remarks
patterson
representative
st
germain
responded
act
expand
federal
associations
investment
powers
nly
federal
home
loan
bank
board
permits
home
owners
act
bank
board
complete
authority
determine
regulation
lending
practices
federal
associations
ibid
although
postenactment
events
accorded
weight
contemporary
history
provide
confirmation
congress
intent
delegate
board
broad
discretion
regulating
lending
practices
federal
savings
loans
see
nlrb
bell
aerospace
red
lion
broadcasting
fcc
board
extensive
regulations
govern
example
fair
credit
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types
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loans
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interest
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charges
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loans
loan
payments
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see
cfr
board
task
force
estimates
california
restrictions
exercise
clauses
accounted
total
losses
suffered
associations
state
million
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federal
home
loan
bank
board
task
force
report
task
force
projects
imposition
restrictions
nationwide
create
within
two
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annual
losses
million
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savings
loans
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federal
state
associations
see
subscribing
opposite
view
contend
unrestricted
exercise
clauses
may
preclude
assumption
mortgages
lower
interest
rates
thus
preventing
sale
homes
transferring
burden
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market
lender
homeowner
prospective
homeowner
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patton
first
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loan
wellenkamp
bank
america
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nichols
ann
arbor
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loan
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board
approach
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williams
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aps
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midland
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loan
martin
peoples
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loan
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occidental
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loan
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venco
partnership
neb
crockett
first
federal
sav
loan
gunther
white
therefore
reject
appellees
contention
board
power
regulate
federal
savings
loans
extends
associations
internal
management
external
matters
relationship
borrowers
although
one
federal
one
state
drawn
distinction
see
gulf
federal
sav
loan
assn
federal
home
loan
bank
holiday
acres
midwest
federal
sav
loan
find
support
language
hola
legislative
history
restriction
board
authority
moreover
whatever
validity
distinction
theory
makes
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wisconsin
recognized
regulation
loan
practices
directly
affects
internal
management
operations
federal
associations
therefore
requires
uniform
federal
control
kaski
first
federal
sav
loan
fact
discussed
text
board
policy
based
view
clauses
essential
financial
soundness
federal
savings
loans
preservation
associations
existence
obviously
related
internal
management
one
functions
delegated
board
congress
pointing
two
deeds
trust
executed
prior
effective
date
appellees
argue
regulation
may
applied
destroy
vested
rights
therefore
appellees
reason
california
law
conflict
federal
law
respect
two
deeds
appellants
respond
interfere
appellees
rights
merely
codified
law
see
supra
two
deeds
trust
executed
california
law
permitted
unrestricted
exercise
clauses
upon
outright
transfer
security
property
occurred
board
regulation
issued
reinforcing
fidelity
right
enforce
provisions
wellenkamp
decided
lender
right
california
law
accelerate
loan
response
outright
transfer
limited
cases
security
impaired
california
prior
cases
forbade
automatic
enforcement
provisions
borrower
encumbered
property
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loan
la
sala
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loan
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borrower
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lassen
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cal
cal
find
wellenkamp
doctrine
previously
promulgated
federal
regulation
therefore
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federal
savings
loans
appellees
deprived
vested
rights
fidelity
permitted
enforce
clauses
two
deeds
savings
loan
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loans
pursuant
california
law
deeds
executed
power
never
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state
law
occasion
therefore
consider
whether
may
applied
give
savings
loan
broader
authority
enforce
clause
deed
trust
executed
address
appellants
contention
effected
change
law
justice
concurring
join
opinion
write
separately
emphasize
authority
federal
home
loan
bank
board
state
laws
limitless
although
congress
delegated
broad
power
board
ensure
federally
chartered
savings
loan
institutions
remain
financially
sound
ante
clear
hola
permit
board
application
state
local
laws
institutions
nothing
language
hola
empowers
board
provide
organization
incorporation
examination
operation
regulation
federally
chartered
savings
loans
remotely
suggests
congress
intended
permit
board
displace
local
laws
tax
statutes
zoning
ordinances
directly
related
savings
loan
practices
accordingly
view
nothing
opinion
read
contrary
one
point
today
opinion
need
decide
whether
hola
board
regulations
occupy
entire
field
federal
savings
loan
regulation
ante
justice
rehnquist
justice
stevens
joins
dissenting
today
concludes
home
owners
loan
act
hola
supp
iv
congress
authorized
federal
home
loan
bank
board
administrative
fiat
california
limitations
upon
enforceability
clauses
real
estate
mortgages
held
federal
savings
loan
institutions
reaches
extraordinary
result
concluding
clauses
relate
savings
loan
mortgage
lending
practices
critical
aspect
operation
board
unquestionably
jurisdiction
ante
conclude
congress
authorized
board
promulgate
regulation
cfr
dissent
section
hola
supp
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unquestionably
grants
broad
authority
board
regulate
mortgage
lending
practices
federal
savings
loans
order
perform
role
board
may
take
account
state
property
contract
law
governs
real
estate
transactions
general
enforceability
interpretation
mortgage
lending
instruments
particular
thus
within
board
power
determine
constitutes
unsafe
lending
practice
federal
savings
loan
conclude
real
property
mortgage
without
fully
enforceable
clause
within
authority
delegated
congress
board
conclude
clause
must
included
mortgage
instrument
means
enabling
federal
savings
loan
remove
unprofitable
loans
portfolio
regulation
entirely
consistent
approach
taken
congress
regulating
savings
loan
industry
federal
home
loan
bank
act
fhlba
precursor
hola
congress
required
board
examine
state
law
relating
conveying
recording
land
titles
homestead
rights
enforcement
rights
holders
mortgages
lands
securing
loans
emphasis
added
section
provides
examination
shall
indicate
opinion
board
laws
state
inadequate
protection
federal
home
loan
bank
making
collecting
advances
chapter
board
may
withhold
limit
operation
federal
home
loan
bank
state
satisfactory
conditions
law
shall
established
emphasis
added
declaring
clause
enforceable
matter
federal
law
however
board
departed
approach
contemplated
congress
although
congress
authorized
board
regulate
lending
activities
federal
savings
loan
associations
indication
hola
legislative
history
congress
empowered
board
determine
whether
federal
law
shall
govern
enforceability
particular
provisions
contained
mortgages
concluded
federal
savings
loan
associations
anything
fhlba
indicates
congress
understanding
enforceability
provisions
mortgages
matter
state
law
contract
real
property
law
traditionally
domain
state
law
aronson
quick
point
pencil
butner
hola
congress
intend
create
federal
common
law
mortgages
see
texas
industries
radcliff
materials
board
attempt
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clauses
matter
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law
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lending
practices
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savings
loan
associations
board
gone
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manner
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savings
loan
may
lend
mortgage
money
instead
recognizes
ante
board
regulation
purports
create
rule
law
govern
rights
obligations
parties
mortgage
instrument
regulation
simply
delineate
provisions
federal
savings
loan
must
must
include
mortgage
instrument
section
purports
guarantee
enforceability
contractual
provision
notwithstanding
state
law
contrary
case
board
regulating
operation
federal
savings
loan
associations
operation
clauses
without
congressional
authorization
explicit
relied
upon
conclude
board
entered
domain
authorized
override
state
laws
limitations
california
courts
placed
upon
enforceability
clauses
impair
ability
board
regulate
manner
federal
savings
loan
associations
engage
mortgage
lending
california
interfered
board
determination
constitutes
unsafe
lending
practice
federal
savings
loan
enter
loan
agreement
without
fully
enforceable
clause
california
rule
regarding
clauses
invalid
pursuant
supremacy
clause
simply
makes
difficult
lenders
eliminate
unprofitable
mortgage
loans
portfolios
although
board
concluded
california
courts
limitations
upon
enforceability
clauses
economically
unsound
agree
congress
enabled
board
insulate
federal
savings
loans
california
mortgage
law
merely
promulgating
regulation
declares
clauses
enforceable
discharge
mission
ensure
soundness
federal
savings
loans
authorize
federal
home
loan
bank
board
intrude
domain
state
property
contract
law
congress
left
board
however
argued
federal
common
law
govern
contractual
relationship
federal
savings
loan
institutions
mortgagors
see
gulf
federal
sav
loan
federal
home
loan
bank
cert
pending
brief
federal
home
loan
bank
board
et
al
amici
curiae