Ontario Government Agency History (BA702)
The Housing Corporation was organized in 1948 with representatives from the Department of Planning and Development, municipal government, the Office of the Provincial Secretary and the Department of the Treasury.
The Corporation managed funds borrowed from commercial lending institutions that would be loaned by the Corporation as first or second mortgages. Generally, applications for funds came from those who had a steady income but who did not qualify for mortgages from commercial lenders.
By the 1960s the Housing corporation was providing mortgages to clients in government programs such as Home Ownership Made Easy (HOME) and through commercial developers in financing condominium construction.
In 1974 the Housing Corporation was dissolved and replaced by the Ontario Mortgage Corporation.
Letters Patent dated April 30th, 1948 by the Office of the Provincial Secretary.
Minutes and By-laws of the Housing Corporation, 1948-1974.