Home Owners' Loan Corporation
E949
The Home Owners' Loan Corporation was a New Deal-era U.S. government agency created during the Great Depression to refinance home mortgages, prevent foreclosures, and stabilize the housing market.
Aliases (1)
Statements (44)
| Predicate | Object |
|---|---|
| instanceOf |
New Deal agency
→
government agency → |
| activity |
issuing long-term, low-interest loans to homeowners
→
purchasing distressed home mortgages from private lenders → refinancing mortgages on more favorable terms → |
| appliesToJurisdiction |
federal jurisdiction of the United States
→
|
| archivesAt |
U.S. National Archives
→
|
| associatedWith |
redlining
→
|
| country |
United States
→
|
| createdDuring |
Great Depression
→
|
| dissolved |
1954
→
|
| financedBy |
U.S. Treasury
→
federal government bonds → |
| foundedBy |
United States federal government
→
|
| governmentBranch |
executive branch of the United States government
→
|
| hasConsequence |
expanded use of long-term fixed-rate mortgages in the U.S.
→
|
| hasEffectOn |
homeownership patterns in the United States
→
racial segregation in housing markets → |
| hasProgramType |
mortgage relief program
→
|
| headquartersLocation |
Washington, D.C.
→
|
| historicalRole |
stabilizing the U.S. housing finance system during the Great Depression
→
|
| impact |
contributed to long-term changes in U.S. mortgage markets
→
reduced home foreclosure rates in the 1930s → |
| inception |
1933
→
|
| industry |
housing finance
→
mortgage lending → |
| legalBasis |
Home Owners' Loan Act of 1933
→
|
| locatedInTime |
20th century
→
|
| mainPurpose |
prevent home foreclosures
→
refinance home mortgages → stabilize the housing market → |
| notableFor |
introduction of standardized long-term amortized mortgages
→
large-scale mortgage refinancing during the Great Depression → use of residential security maps → |
| operatedIn |
United States
→
|
| parentOrganization |
Federal Home Loan Bank Board
→
|
| partOf |
New Deal
→
|
| policyArea |
economic recovery policy
→
housing policy → |
| regulates |
terms of refinanced home mortgages
→
|
| replacedBy |
private mortgage market institutions
→
|
| supervisedBy |
Federal Home Loan Bank Board
→
|
| timePeriod |
New Deal era
→
|
| usedInstrument |
federally backed mortgage refinancing
→
|
Referenced by (4)
| Subject (surface form when different) | Predicate |
|---|---|
|
Housing and Home Finance Agency
("Home Owners’ Loan Corporation")
→
|
coordinateWith |
|
Home Owners' Loan Act of 1933
→
|
created |
|
New Deal
→
|
hasPart |
|
Home Owners' Loan Act of 1933
→
|
implementedBy |