Department Of Housing And Urban Development (HUD)
Created by the US Congress in 1965, the Department of Housing and Urban Development (HUD) is the agency principally responsible for federal programs relating to housing and urban improvement throughout America.
An important infrastructure feature, the Department of Housing and Urban Development (HUD) has programs that include mortgage insurance for home-buyers, low-income rental assistance, and initiatives for urban revitalization that are developed in conjunction with state and municipal authorities. Not to mention important real estate business conventions and practices and building regulations that the Department of Housing and Urban Development (HUD) champions to make real estate fair for everyone and healthy not only for our financial system but for the American society as a whole, providing assistance to the homeless, applying environmental compliance measures and natural disaster assistance.
Originally, much of HUD’s effort was devoted to subsidizing the construction and operation of low and moderate income housing. Under Ronald Reagan’s administration in the 1980’s, the Department of Housing and Urban Development (HUD) began emphasizing the rehabilitation of substandard housing and assisting low-income tenants in paying for existing housing, either through direct rent subsidies or through a system of housing vouchers.
Two of HUD’s most recognizable programs are Ginnie Mae, which – on a quick analysis - promotes real estate development through liberating cash flow for mortgage companies, and the Federal Housing Administration (FHA), which provides accessible mortgage insurance on loans made by accredited lenders.
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