Home Owners' Loan Corporation


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Home Owners' Loan Corporation

(HOLC), former U.S. government agency established in 1933 to help stabilize real estate that had depreciated during the depression and to refinance the urban mortgage debt. It granted long-term mortgage loans to some 1 million homeowners facing loss of their property. The HOLC ceased its lending activities in June, 1936, by the terms of the Home Owners' Loan Act.

Bibliography

See C. L. Harriss, History and Policies of the Home Owners' Loan Corporation (1951); P. Fishback, J. Rose, and K. Snowden, Well Worth Saving: How the New Deal Safeguarded Home Ownership (2013).

References in periodicals archive ?
The majority of loans went to farmers for mortgages and crop loans or to the Home Owners' Loan Corporation (HOLC) to purchase troubled mortgages and refinance them.
The New Deal sought to solve the mortgage crisis by creating the Home Owners' Loan Corporation (HOLC).
Treber, "The Influence of the Home Owners' Loan Corporation on Housing Markets During the 1930s," NBER Working Paper No.
Harriss, History and Policies of the Home Owners' Loan Corporation, New York, New York: National Bureau of Economic Research, 1951.
It summarizes the major federal initiatives to reduce foreclosures and reform mortgage market practices, focusing especially on the activities of the Home Owners' Loan Corporation (HOLC), which acquired and refinanced one million delinquent mortgages between 1933 and 1936.
The creation of a new federal corporation to purchase distressed mortgages would mimic a similar agency, the Home Owners' Loan Corporation (HOLC), that was established to purchase delinquent home mortgages during the Great Depression.
The Home Owners' Loan Corporation (HOLC) was created as an agency of the Federal Home Loan Bank Board by an act of Congress in 1933.
The federal government then tackled the problem of delinquent loans directly by creating the Home Owners' Loan Corporation, which purchased delinquent loans from their originators.
The Home Owners' Loan Corporation was brought into being overnight, as a result of the real estate collapse.
Since its inception the Home Owners' Loan Corporation has revised its approaches considerably.
The Home Owners' Loan Corporation and its appraisal staff have contributed much to real estate appraisal education and are one of the most potent influences in the real estate field.
Well Worth Saving tells the story of the disastrous housing market during the Great Depression and the extent to which an immensely popular New Deal relief program, the Home Owners' Loan Corporation (HOLC), was able to stem foreclosures by buying distressed mortgages from lenders and refinancing them.