FHFA makes it official: Fannie, Freddie required to open credit box to "underserved"

Eight years after the passage Housing and Economic Recovery Act of 2008 mandated that Fannie Mae and Freddie Mac increase lending to three specific “underserved” markets, the Federal Housing Finance Agency announced Tuesday that the government-sponsored enterprises must work to open the credit box for certain very low-, low-, and moderate-income families.