In the Latter Half of the 1990s, the Department of Housing

question 88

Multiple Choice

In the latter half of the 1990s, the Department of Housing and Urban Development imposed regulations on Fannie Mae and Freddie Mac, requiring them to

• A) extend more mortgage loans to households with low and moderate incomes.
• B) accept only mortgages with at least a 20 percent down payment.
• C) tighten lending standards and increase their holdings of low-risk, conventional mortgages.
• D) extend more mortgage loans to households with middle and high incomes.

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Definitions:

Middle Colonies

A term referring to the British colonies of New York, New Jersey, Pennsylvania, and Delaware in North America, known for their diverse populations, agricultural production, and trade in the 17th and 18th centuries.

Great Awakening

A series of religious revivals in the British American colonies during the 18th century, which emphasized personal faith, emotional experience, and the need for moral reform.

Religious Diversity

The existence of a variety of religious beliefs, practices, and institutions within a given society, reflecting the freedom of belief and pluralism.

Intellectualism

The exercise of the intellect or an emphasis on intellectual pursuits, often associated with a broad and deep understanding across multiple fields of study.