Home Owners' Loan Corporation Law and Legal Definition
Home Owners' Loan Corporation (HOLC) was a former agency of the U.S. government. It was a New Deal agency established in 1933 to help in stabilizing real estate that had depreciated during the depression and to refinance the urban mortgage debt. The HOLC was established pursuant to theHome Owners' Loan Corporation Act.
HOLC is often cited as the originator of mortgage redlining, although, this claim has also been disputed.
The HOLC stopped its lending activities in June, 1936, by the terms of the Home Owners' Loan Act. HOLC officially ceased operations in 1951, when its last assets were sold to private lenders.
Legal Definition list
Related Legal Terms
- Absolute Ownership
- Absolute Ownership (Oil and Gas)
- Acquisition and Improvement Loan [Veterans' Relief]
- Acquisition Loan [HUD]
- Acquisition of Ownership (Trademark)
- Acquisition, Development and Construction (ADC) Loan
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
- Adjoining Landowners
- Adjustable Rate Mortgage Loan