Complex sentence: The Home Owners'Loan Corporation (HOLC) was a New Deal agency established in 1933 by the Home Owners' Loan Corporation Act under President Franklin D. Roosevelt.
Split into simpler sentences: The Home Owners'Loan Corporation (HOLC) was a government-sponsored corporation created as part of the New Deal. The corporation was established in 1933 by the Home Owners' Loan Corporation Act under President Franklin D. Roosevelt.