Home Owners’ Loan Corporation

Home Owners’ Loan Corporation
(HOLC)
   Established under the Home Owners’ Loan Act in 1933, HOLC was created by the Federal Home Loan Bank Board set up by Herbert Hoover in 1932 to provide loans to enable homeowners to pay mortgages or secure advances for home repair. By 1936, when HOLC ceased giving loans, almost 1 million loans totaling $3 billion had been made, covering almost one-fifth of all mortgaged homes. Operations finally came to an end in 1951.

Historical Dictionary of the Roosevelt–Truman Era . . 2015.

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