What is the Department of Housing and Urban Development (HUD)?

HUD, or the U.S. Department of Housing and Urban Development, is a U.S. government agency that operates in the Executive Cabinet. The agency was founded by President Lyndon Johnson in 1965, as part of his "Great Society" program. HUD develops and executes policies on housing, including insuring HUD multifamily construction loans, specifically with a view towards affordability and sustainability.