what did the housing and economic recovery act hera do 
the housing and recovery act hera addressed some of the most important shortcomings of the mortgage lending industry following the 2008 financial crisis and housing collapse the purpose of hera is to prevent the circumstances that could result in a repeat of the crisis including predatory lending who created hera hera was passed by congress as part of a joint effort to support recovery in the mortgage industry and restore confidence in both fannie mae and freddie mac hera was signed into law by then president george w bush 3