What is one of the primary responsibilities of HUD?

One of the primary responsibilities of HUD, or the Department of Housing and Urban Development, is to manage the Federal Housing Administration (FHA). The FHA is a government agency formed to provide insurance for loans made by approved lenders to borrowers with low to moderate incomes. By overseeing the FHA, HUD facilitates access to affordable housing and helps to protect lenders against losses related to defaults on these loans.

This management role is crucial because it enables HUD to influence policies related to housing finance, promote broader access to mortgage credit, and enhance the stability of the housing market. The work of HUD in administering the FHA helps to support homeownership and rental housing opportunities throughout the United States.