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Ontario Government Agency History (BA702)

Housing Corporation (Ont.)


History and Function

Name
Housing Corporation
Dates of Existence
1948-1974
Function
The Housing Corporation Ltd. was established in 1948 to provide loans and mortgage investments for housing.
Administrative History

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.

Authorizing Agent

Letters Patent dated April 30th, 1948 by the Office of the Provincial Secretary.

Source Note

Minutes and By-laws of the Housing Corporation, 1948-1974.


Agencies that preceded and/or succeeded this agency

Successor Agencies

Ontario Mortgage Corporation


Controlling Agencies

Housing Corporation reported to the following agencies:


Archival Record Series Created by this Agency

Click on a reference code for more information about a series of records.

Reference Code Series Title

RG 43-34

Ontario Mortgage Corporation Board of Directors meetings files