![]() These critics have proposed dramatically narrowing the footprint of the Federal Housing Administration, or FHA eliminating the Community Reinvestment Act, or CRA and scrapping the government-sponsored enterprises, or GSEs, Fannie Mae and Freddie Mac, which help provide liquidity to mortgage markets and ensure availability of the 30-year, fixed-rate mortgage. Over the past several years, conservatives who argue that some aspects of federal housing policy caused the financial crisis have pushed for legislation to eliminate or restrict government programs that make homeownership more affordable for Americans. 1 Despite this success, some conservatives continue to question the relevance and effectiveness of long-standing government housing policies. This support has helped enable millions of middle-class and aspiring middle-class families to buy homes. ![]() ![]() For more than 80 years, the federal government has supported mortgage lending through a variety of policies, programs, and institutions.
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