The HOLC
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.