He then took over the operation of his father's farm, also investing in land and mortgages.

The company also originated $832 million in mortgages last year.

The business developed more than $4.5 billion in mortgages last year.

At that point, low interest rates helped generate $450 billion in new mortgages.

Insurance companies hold about $230 billion in long-term commercial mortgages.

This year, officials said, the program would offer insurance for $3 billion in mortgages.

With the increase announced today, the department would offer insurance for $3.3 billion in mortgages.

So far, only 384 such loans have been made, leaving the agency with $122.5 million in unused mortgages.

In fact, he just took $215 million in first mortgages on three of his other buildings to do so.

Another $265 billion, or 19.2 percent, is invested in mortgages.