HUD

U.S. Department of Housing and Urban Development

A department in the United States charged with promoting homeownership. It oversees the Federal Housing Administration and has a relationship with Fannie Mae and Freddie Mac. It also provides vouchers to make rent more affordable and provides grants for community development. It was established in 1965.

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HUD

The United States Department of Housing and Urban Development. This federal cabinetlevel department has a wide variety of responsibilities, including

• Enforcing fair housing laws
• Assisting community development through block grants, loan guarantees, and disaster recovery assistance
• Regulating Fannie Mae and Freddie Mac
• Supporting health care through providing mortgage insurance for hospitals, nursing homes, and assisted living facilities
• Aiding Native Americans with specialized housing programs
• Educating citizens about hazards such as lead paint
• Overseeing the Federal Manufactured Housing Program
• Providing public housing assistance
• Making available housing counseling
• Administering a number of mortgage insurance programs for multifamily housing
• Providing mortgage insurance for single-family houses
• Handling witness relocation for people who have testified about crimes in their public or assisted housing buildings

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.