The Home Owners' Loan Corporation (HOLC) was a government-sponsored corporation created as part of the New Deal. The corporation was established in 1933 by the Home Owners' Loan Corporation Act under the leadership of President Franklin D. Roosevelt. Its purpose was to refinance home mortgages currently in default to prevent foreclosure, as well as to expand home buying opportunities. Since Kenneth T. Jackson's work in the 1980s, scholars have increasingly portrayed HOLC as a key promoter of redlining and a driver of racial residential segregation and racial wealth inequality in the United States. Operations The HOLC issued bonds and then used the bonds to purchase mortgage loans from lenders. The loans purchased were for homeowners who were having problems making the payments on their mortgage loans "through no fault of their own". The HOLC refinanced the loans for the borrowers. Many of the lenders gained from selling the loans because the HOLC bought the loans by
The Home Owners' Loan Corporation (HOLC) fue una corporación patrocinada por el gobierno creada como parte del New Deal. La corporación fue establecida en 1933 por el Home Owners' Loan Corporation Act bajo la dirección del presidente Franklin D. Roosevelt. Su propósito era refinanciar las hipotecas de hogar actualmente en default para prevenir el bloqueo, así como para expandir las oportunidades de compra de hogar. Desde el trabajo de Kenneth T. Jackson en los años 1980, los estudiosos han representado cada vez más a HOLC como un promotor clave de redlining y un motor de la segregación racial residencial y la desigualdad racial en los Estados Unidos. Operaciones The HOLC emitió bonos y luego utilizó los bonos para comprar préstamos hipotecarios de los prestamistas. Los préstamos se compraron para los propietarios de hogar que tenían problemas con los pagos de sus préstamos hipotecarios "sin culpa propia".