![]() Ahmanson in the mid-1950s, but the investigation was dropped. Department of Justice's antitrust division launched an investigation of H.F. New laws passed by states in the late 1940s began to limit this tying relationship. Prior to the 1950s, mortgage lenders often earned extra income by tying fire insurance policies to mortgages. In the decade that followed, Ahmanson acquired 18 additional institutions, merged them under the name Home Savings and Loan, and turned the group into a financial giant. Home Savings then became the cornerstone of H.F. In 1947, Ahmanson purchased the Home Building and Loan Association, a savings and loan association with assets of less than $1 million, for $162,000. His father had previously owned National American, but the Ahmanson family had lost control of it after his father's death in 1925.Īfter World War II, the American housing market expanded tremendously, especially in California. In 1943, Ahmanson bought control of Omaha-based National American Insurance Company. Ahmanson once remarked that he felt like an undertaker: "the worse it got, the better it was for me." During the Great Depression, the company prospered by dealing with foreclosures. Ahmanson's company specialized in casualty insurance and quickly became the largest underwriter in California. Ahmanson company in 1927, before graduating from the University of Southern California. Ĭonsidered by his father to be a genius by the age of five, Ahmanson founded the H.F. Howard Fieldstad Ahmanson, the company's founder, was born in Omaha, Nebraska on July 1, 1906. ![]() It was best known as the parent of Home Savings of America, once one of the largest savings and loan associations in the United States. was a California holding company named after Howard F.
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