Which department oversees the Federal Housing Administration (FHA)?

The Federal Housing Administration (FHA) is overseen by the Department of Housing and Urban Development (HUD). This department is responsible for national policies and programs that address housing needs, improve and develop urban communities, and enforce fair housing laws. Within HUD, the FHA plays a crucial role in expanding homeownership opportunities primarily for low to moderate-income individuals and families. This includes providing mortgage insurance on loans made by approved lenders to borrowers with lower credit scores or limited down payment ability.

Other departments mentioned, such as the Department of the Treasury, primarily deal with financial policy and managing government revenue without focusing specifically on housing. The Department of Commerce is involved with promoting economic growth but does not oversee housing programs. The Department of Agriculture, while it does manage rural housing programs, does not encompass the FHA's broader role in urban housing and mortgage insurance. Thus, the connection between the FHA and HUD is integral to fulfilling FHA's mission to make homeownership more accessible.