Home Owners' Loan Corporation
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.
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).
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
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