What does the acronym HOLC stand for?

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Prepare for the Mckissock 8-hour National Valuation Bias and Fair Housing Laws and Regulations Test. Study with flashcards and multiple choice questions with detailed explanations. Ensure your success on exam day!

Multiple Choice

What does the acronym HOLC stand for?

Explanation:
Holc is the abbreviation for Home Owners' Loan Corporation, a New Deal agency created in 1933 to refinance mortgages and prevent foreclosures during the Great Depression. The best match is Home Owners Loan Corporation because it uses the correct terms in the proper form: “Home Owners’” (possessive) with “Loan” in the singular and “Corporation.” The other options alter the meaning—Lending implies a different function, removing the possessive or changing to a different word or entity (Company vs Corporation) makes it incorrect. This agency funded long-term, low-interest loans to homeowners to stabilize housing and reduce defaults, and it played a key role in easing the housing crisis of that era.

Holc is the abbreviation for Home Owners' Loan Corporation, a New Deal agency created in 1933 to refinance mortgages and prevent foreclosures during the Great Depression. The best match is Home Owners Loan Corporation because it uses the correct terms in the proper form: “Home Owners’” (possessive) with “Loan” in the singular and “Corporation.” The other options alter the meaning—Lending implies a different function, removing the possessive or changing to a different word or entity (Company vs Corporation) makes it incorrect. This agency funded long-term, low-interest loans to homeowners to stabilize housing and reduce defaults, and it played a key role in easing the housing crisis of that era.

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