HUD will now audit its loan guarantee programs like any other federal grant

The US Department of Housing and Urban Development (HUD) is changing its rules for federal financial assistance. This means HUD will now apply standard government-wide rules to its loan guarantee programs, including audits and registration requirements.

For years, HUD's loan guarantee programs operated under different rules than its other grants. This allowed them to avoid some standard oversight. Now, these programs will be subject to the same audit requirements as other federal financial assistance, which means more scrutiny on how the money is used and who benefits.