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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD)
CCR PROJECT
Authored by:
Juliana Osei
Jestina Sesay
Dung La
WHO WE ARE
The history of the HUD began in the aftermath of the Great Depression with the passage of the National Housing Act and creation of the Federal Housing Administration (FHA). HUD officially became a Cabinet-level agency within the executive branch of the federal government in 1965 when President Lyndon B. Johnson signed the Department of Housing and Urban Development Act as a part of the Great Society programs. HUD has more than 8,000 employees and 60 field and regional offices across the nation and works with local partners to achieve its mission.
About HUD
HUD provides housing support and uplifts communities. Helping you meet your housing need.
Knowing your rights when it comes to home purchasing is one of the responsibilities that the HUD provides to citizens.
The HUD helps citizens shop, compare, negotiate, and look for the best mortgage with a realistic interest rate.
HUD’s special homebuying programs like Good Neighbor Next Door, Homeownership for public housing residents is available to all citizens interested in purchasing a house.
This Photo by Unknown author is licensed under CC BY.
Mission and Vision statement
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
HUD's vision is to improve lives and strengthen communities to deliver on America's dreams.
Core Values:
The scope and diversity of HUD's programs reflect a core value at HUD.
This Photo by Unknown author is licensed under CC BY.
HUD's STRATEGIC PLAN
Strengthen and broaden the Federal housing safety net for people in need.
01
Advance housing equity to improve housing choices and greater economic opportunity.
02
Increase the production of and access to affordable housing.
03
Promote climate resiliency, environmental justice, and energy efficiency across the housing sector.
04
Strengthen HUD’s internal institutional capacity to deliver on mission.
05
Challenges
Covid-19 Impact on public housing
Increasing social equity
Climate change and natural disaster.
MAJOR PROGRAMS
Federal Housing Administration (FHA) - largest office within HUD and one of the largest mortgage insurers in the world.
Government National Mortgage Association (GNMA) - ensure on-time payments to mortgage-backed securities (MBS) certificate holders.
Community Development Block Grants (CDBG)-funding to state and local to support community development activities for low to moderate income persons.
Public and Indian Housing Loans and Grants (PIH) - operation and management of public housing.
Section 8 Rental Assistance – rental housing for low to moderate income people.
Homeless Assistance Grants - to support communities' homeless crisis response system.
The HOME investments Partnerships (HOME) - Grants to state and local agencies to increase home ownership and affordable housing opportunities to low-income people.
Housing for the Elderly and Disabled Persons – grants to provide rental housing to elderly and disable people.
All Other programs - direct loans and loan guarantee programs
REVENUES
FY2021
COVID-19
Delivering direct relief to the American people, rescue the American economy, and address the continued impact of COVID-19.
Provide aid and economic assistance to individuals, families and businesses across the nation impacted by COVID-19.
EXPENSES
*FHA and GNMA’s negative net cost include negative subsidies.
FINANCIAL CHANGES
FHA’s Budgetary Resources increased by $27.7 billion.
There was no significant change in net cost. Section 8 program increase $1.8B and PIH program increased $4.2B.. The increases are offset by the negative subsidy of FHA.
FINANCIAL HIGHLIGHTS
Unmodified audit opinion for the second year in a row.
Accountability, Integrity, and Risk (AIR) program: developed HUD’s first-ever three-year rotational internal control testing plan to achieve adequate coverage over critical business processes in accordance with regulatory guidance.
Office of the Chief Financial Officer (OCFO) improved data quality by creating a standardized framework and analysis feeding into a feedback loop highlighting areas of improvement.
HUD is committed to ensuring transparency and accountability of the funds that the public and Congress entrust to us. this is the website to HUD’s details financial reports: https://www.hud.gov/sites/dfiles/CFO/documents/afr2021.pdf
Thank you!
U.S. Department of Housing and Urban Development
451 7th Street S.W., Washington, DC 20410
Telephone: 202-708-1112 | TTY: 202-708-1455 WWW.HUD.GOV
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