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in promoting owner-occupied housing, their operations tend to increase home ownership. In this Metro olitan Area, these associations have been articularl dominant in the len in ield. lthough grecise igures are not avail- a le, savings and oan associations in 1g59 held approximately 51 per cent of all reco,rded mortgages in Minnesota. In the same year they accaunt�.� for 61 per cet�t of, mortgage recordings in Ramsey County and `'': per cent 'n i�ennepin County compared to the United States average of 40. 6 k�er t`:_t, '� lndicatians are �hat in the past three years their �sit� has bctn enl.a�ced. 3ge coi_�pan � are a group of lenders who serve as brokers �er of inv- :urs. These investors typically are insurance .� , pension fi.►�ids , and laxge financial institutions . The particular ��irer.��:�nts of an individual rriortgage company vary with requisitions ,f +.� z investors they serve., Mortgage companies who primarily handle �• •e.sri�Qnts from Iife insurance companies are more restrictive about ��nditions undex whict� they will take mortgages than other mortgage c�. �s; for examp� �, they are less willing to loan in urbanizing frin�� areas d�.0 ac.Lively promote developments. A high percentage of the insurance firms that invQst their funds in this Area do so through correspondent mortgage companies. This seems to be typical even though an insurance company has a local office in the area; however, the horne or regional offices usually maintain a mortgage department staff. The primary advantage offered to the investor by the mortgage company is relief f rom having t+o � et up loc al staff s and o rganizations . The advantage to the consumer is that the mortgage company has a diversity of mort�age outlets. In �erms �f outstanding dollar volume, it is estimated that mortgage companies account for a�proximately 18 pex cent of the residential mortgages in this Area. The available funds for mortgages are �rob- ably substantially larger becaus�e they serve many very large investors. One mortgage company, for example, indicated they had been granted, for all practical purposes, unlixnited funds to be placed in residential mortgages in the Area. Although commercial banks still hold a sizeable portion of outstanding mortgages, their relative position, particularly in this Area, seems to be declining. But the recent increase in interest rates that banks may pay may reverse this trend. In Minnesota at the end of 1959, commer- cial banks a�counted for approximately 19. 6 per cent of all mortgage recordings. However, in outstanding dollar volume of mortgages United 5tates Savings and Loan League, Factbook, 1960, (Chicago: U.S. Savings and Loan League, 1959, ) p. 53. 5MPC estimate based upon data collected during the study. However, since the data were incomplete, the estimates should not be taken too literally. 6U. S. Savings and Loan League, op. cit. , p. 420 :