What is the Department of Housing and Urban Development (HUD)?
The Department of Housing and Urban Development (HUD) and the 223(f) Loan Program
Founded by President Lyndon Johnson in 1965, the U.S. Department of Housing and Urban Development is part of the Executive Cabinet. HUD develops, oversees, and executes housing policies, specifically in regards to affordable and sustainable housing. As a part of its mission to make housing more available to Americans, HUD insures a variety of loan programs, including the HUD 223(f) loan for the acquisition and refinancing of multifamily properties.