Marcella E. Belt
Chief Executive Officer
Helen R. Kanovsky
Mr. Shaun Donovan
HUD was founded in the year 1965. The company has been operational for almost 53 years now. The organisation has its roots back in the year 1934 when the National Housing Act had created the Federal Housing Administration. The main reason for the establishment of the administration was to provide mortgage insurance on loans made by the lenders who were FHA-approved. In the year 1937, the United States Housing Authority was created, which helped in the clearance of slum projects and also the construction of housings that are for low rent. Then in the year 1938, the Federal National Mortgage Association was created as well, which gave a secondary type of market to the Federal Housing Administration.
In the year 1942, the National Housing Agency was established. Then in the year 1947, the Housing and Home Finance Agency was established as well. Over the next few years, there have been several establishments of new Housing Acts, like in the year 1949, 1954, 1959 and 1964. After the formation of HUD, the National Mortgage Association was created in the year 1968. The following year, the Brooke Amendment was established as well. Starting in the year 1974, the organisation began to allow community development and also help in urban homesteading. Then in the year 1988, the organisation approved the sale of public housing to management corporations that are resident to the USA. By the year 1996, the overall homeownership of all the American households, reach almost 66.3 million. Two years later, in the year 1998, the organisation establishes a reinforcement centre that will help to take action against people who violate laws and regulations of the housing administration and also have multifamily properties as well. By the year 2000, the homeownership of all Americans reaches almost 71.6 million. In the year 2007, the organisation had started a program that provided seller concessions to the buyers of HUD homes and therefore allowing them to use a downpayment of just $100. The headquarters of the organisation is based in 451 7th Street South West. The name of the place is Washington, while the name of the state is DC, USA. The pin code of the area is 20410.
HUD is an American organisation that deals with various types of housing policies and acts, along with its Home Financing Agency as well, for the reason of urban development in the USA. TheThe current secretary of the organisation is Ben Carson. As of the year 2014, the number of employees working in the organisation is more than 8,400. Also, the overall annual budget of the organisation, as of the year 2014, is more than $32.6 billion.
The primary services provided by the company include allowing the citizens of the USA to follow the various housing laws and regulations laid down by the organisation, as well as obtain help in financing housing projects, for the reason of urban development. The main aim of the organisation is to execute and also develop various types of policies on metropolises and housing.
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