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You forget they admitted to lobbying to modify the CRA standards and did it in 1992. You just do not want to admit that they did it. You first refused to believe that were anything but a voter registration organization. Foolish lib.

They say it but you ignore it. Just have to keep your blinders on. They are a very liberal organization with tentacles in a lot of things. The compassion of mortgages was their concern in the housing market. Red lining is just a way of saying the banks were not allowed to ask for money down and could not examine the income of the people asking for a loan. What happens when you go for a loan. How much down is required and what proof of income do they ask for? But the banks are not allowed to do that for the poor. Then you compassionate liberals wonder why the foreclosures came. Foolish libs.

Legislative changes 1992 to CRA (ACORN)

Although not part of the CRA, in order to achieve similar aims the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 required Fannie Mae and Freddie Mac, the two government sponsored enterprises that purchase and securitize mortgages, to devote a percentage of their lending to support affordable housing.

In October 2000, in order to expand the secondary market for affordable community-based mortgages and to increase liquidity for CRA-eligible loans, Fannie Mae committed to purchase and securitize $2 billion of "MyCommunityMortgage" loans. In November 2000 Fannie Mae announced that the Department of Housing and Urban Development (“HUD”) would soon require it to dedicate 50% of its business to low- and moderate-income families." It stated that since 1997 Fannie Mae had done nearly $7 billion in CRA business with depository institutions, but its goal was $20 billion. In 2001 Fannie Mae announced that it had acquired $10 billion in specially-targeted Community Reinvestment Act (CRA) loans more than one and a half years ahead of schedule, and announced its goal to finance over $500 billion in CRA business by 2010, about one third of loans anticipated to be financed by Fannie Mae during that period.

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