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Article: Housing and Urban Development Department
- Article from:
- West's Encyclopedia of American Law
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HOUSING AND URBAN DEVELOPMENT DEPARTMENT
The Department of Housing and Urban Development (HUD) is the principal federal agency responsible for programs concerned with housing needs, fair housing opportunities, and improving and developing U.S. communities.
HUD was established in 1965 by the Department of Housing and Urban Development Act (42 U.S.C.A.
§
3532
–
3537). Its major functions include insuring mortgages for single-family and multifamily dwellings and extending loans for home improvements and for the purchase of mobile homes; channeling funds from investors into the mortgage industry through the government national mortgage association; and making loans for the ...