Home Owners' Loan Act of 1933
E4218
The Home Owners' Loan Act of 1933 was a New Deal-era U.S. federal law that created mechanisms to refinance home mortgages and prevent foreclosures during the Great Depression.
Observed surface forms (3)
| Surface form | Occurrences |
|---|---|
| Home Owners’ Loan Act | 1 |
| Home Owners’ Loan Act of 1933 | 1 |
| Home Owners’ Loan Corporation Act | 1 |
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
New Deal legislation
ⓘ
United States federal statute ⓘ |
| aimedAt |
stabilizing the banking system
ⓘ
stabilizing the housing market ⓘ |
| authorized |
federal government purchase of distressed home mortgages
ⓘ
issuance of government-backed bonds to fund mortgage refinancing ⓘ |
| benefitForm |
long-term amortized mortgages
ⓘ
lower interest rates for homeowners ⓘ |
| characteristic | emergency, temporary program in origin ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| created | Home Owners' Loan Corporation ⓘ |
| enactedDuring |
Great Depression
ⓘ
New Deal ⓘ |
| establishedAgencyType | federal government corporation ⓘ |
| historicalPeriod | 1930s United States ⓘ |
| impact |
expanded federal role in housing finance
ⓘ
helped restore confidence in mortgage lending ⓘ reduced the number of residential foreclosures ⓘ |
| implementedBy | Home Owners' Loan Corporation ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
federal government of the United States
|
| legalArea |
banking law
ⓘ
financial regulation ⓘ housing law ⓘ |
| legislativeBody | United States Congress ⓘ |
| mechanism |
exchange of new long-term, low-interest loans for troubled mortgages
ⓘ
federal refinancing of existing home mortgages ⓘ |
| partOf |
New Deal
ⓘ
surface form:
First New Deal
|
| policyType |
emergency economic relief
ⓘ
financial stabilization policy ⓘ housing policy ⓘ |
| presidentAtEnactment |
President Franklin D. Roosevelt
ⓘ
surface form:
Franklin D. Roosevelt
|
| purpose |
to prevent home foreclosures
ⓘ
to provide relief to distressed homeowners ⓘ to refinance home mortgages ⓘ |
| relatedTo |
Emergency Banking Act
ⓘ
surface form:
Emergency Banking Act of 1933
Glass–Steagall Act ⓘ National Housing Act of 1934 ⓘ |
| responseTo |
banking crisis of the early 1930s
ⓘ
collapse of the housing market ⓘ widespread mortgage defaults ⓘ |
| sectorAffected |
banking
ⓘ
housing finance ⓘ mortgage lending ⓘ |
| signedBy |
President Franklin D. Roosevelt
ⓘ
surface form:
Franklin D. Roosevelt
|
| targetPopulation |
homeowners facing foreclosure
ⓘ
homeowners in default ⓘ |
| timeHorizonOfLoans | long-term ⓘ |
| typeOfRelief | home mortgage relief ⓘ |
Referenced by (4)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
Home Owners’ Loan Act
this entity surface form:
Home Owners’ Loan Corporation Act
subject surface form:
Hundred Days (FDR)
this entity surface form:
Home Owners’ Loan Act of 1933