America's beleaguered homeowners got a dose of relief on this day in 1933, as Congress gave the nod to the Home Owners Refinancing Act. The legislation, passed during the furious first 100 days of President Franklin Roosevelt's New Dealing administration, was designed to help Depression-stricken citizens refinance their homes. Towards that end, Act established the HomeOwners Loan Corporation (HOLC), a typical Roosevelt-era administration which wielded federal funds in the fight against the Depression. Chaired for a spell by New Deal stalwart Jesse Holman Jones helped finance mortgages and even helped pay for repairs on some people's homes. Though HOLC lasted but three years, it doled out loans for roughly one million mortgages.