Most notably, the Community Reinvestment Act (CRA) obligates insured depository institutions to help meet the credit needs of their entire local communities, including low- and moderate-income borrowers and neighborhoods, consistent with the institutions’ safe and sound operation.
13 Along similar lines, in 1992 the Congress established an affordable housing mission for Fannie Mae and Freddie Mac by directing HUD to create specific mortgage purchase goals for these GSEs.