Identity area
Type of entity
Authorized form of name
Parallel form(s) of name
Standardized form(s) of name according to other rules
Ontario Mortgage Corporation
Other form(s) of name
OMC
Identifiers for corporate bodies
Description area
Dates of existence
History
The Ontario Mortgage Corporation (OMC) was established in the fall of 1974 and attached to the Ontario Ministry of Housing.
From 1974 until 1982, management of the OMC was supervised by a Board of Directors, which reported to the Minister of Housing. On April 1, 1982, however, OMC became a wholly-owned subsidiary of the Ontario Land Corporation (OLC) and its Board of Directors was merged with that of the OLC.
On March 31, 1987, the Ontario Land Corporation ceased operations and OMC, under the management of its own Board of Directors, was reactivated with certain assets and liabilities of the OLC being transferred to it.
With this change, ministerial responsibility for OMC was given to the Ontario Minister of Government Services.
Since 1987, the OMC has been attached to the Ministry of Government Services (1987-1993); the Management Board of Cabinet (1993-1994); the Ministry of Housing (1994-1995); and the Ministry of Municipal Affairs and Housing, since 1995.
Places
Legal status
Functions, occupations and activities
The Ontario Mortgage Corporation (OMC) provided home buyers with mortgages at less than market rates to promote an increase in the levels of individual home ownership. Since 1974, the Corporation's responsibility has expanded to the provision of mortgage funding to private developers of condominium developments and other housing ventures designed to provide lower cost housing to prospective buyers.
Address
The Ontario Mortgage Corporation was established under the Corporations Act.
Internal structures/genealogy
General context
Relationships area
Related entity
Identifier of related entity
Category of relationship
Type of relationship
Dates of relationship
Description of relationship
Access points area
Subject access points
Place access points
Epithet
Control area
Authority record identifier
Institution identifier
Rules and/or conventions used
RAD: Rules for Archival Description, 2nd edn (2008)
Status
Level of detail
Dates of creation, revision and deletion
2026-11-16: migrated to AtoM
Language(s)
Script(s)
Sources
Public Accounts of the Province of Ontario 1986/87 (Vol. 2)
Annual Reports of the Ministry of Housing (1974-1981)
Annual Reports of the Ministry of Municipal Affairs and Housing (1982/1983)
Canadiana Name Authorities, 1996-12- 24
Maintenance notes
Archivist(s):
R. Anger