The Home Owners' Loan Corporation

  • Established in 1933.
  • Purpose was to refinance home mortgages.
  • Issued bonds and then used the bonds to purchase mortgage loans from lenders.
  • Between 1933 and 1935 the HOLC made slightly one million loans.
  • The typical borrower whose loan was refined by HOLC was more then two years behind on the payments of the loan.

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