<Li> February 1988--The Housing and Community Development Act provides for the sale of public housing to resident management corporations . </Li> <Li> October 1992--The HOPE VI program starts to revitalize public housing and how it works . </Li> <Li> October 1992--The Housing and Community Development Act of 1992 codifies within its language the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 that creates the Office of Federal Housing Enterprise Oversight, and mandates HUD to set goals for lower income and underserved housing areas for the GSEs Fannie Mae and Freddie Mac . </Li> <Li> 1992--Federal Housing Enterprises' Financial Safety and Soundness Act of 1992 creates HUD Office of Federal Housing Enterprise Oversight to provide public oversight of FNMA and Federal Home Loan Mortgage Corporation (Freddie Mac). </Li>

Department of housing and urban development us history