Trump Seeks $6.2B Cut to HUD Budget

Mar 16, 2017

President Trump’s Fiscal Year 2018 budget blueprint requested $40.7 billion in gross discretionary funding for the Department of Housing and Urban Development (HUD)

President Trump’s Fiscal Year 2018 budget blueprint requested $40.7 billion in gross discretionary funding for the Department of Housing and Urban Development (HUD), which is $6.2 billion lower than the previous fiscal year’s level, or a 13.2 percent decrease.

The budget blueprint issued by the administration would allocate more than $35 billion for HUD’s rental assistance programs while proposing “reforms that reduce costs while continuing to assist 4.5 million low-income households.” However, the blueprint offered no hint regarding what the reforms would cover and how much savings they would generate.

The budget blueprint eliminates the Community Development Block Grant program, which received $3 billion in the previous fiscal year. The administration defended this decision by stating the program “is not well-targeted to the poorest populations and has not demonstrated results.” It also eliminates the HOME Investment Partnerships Program, Choice Neighborhoods, and the Self-help Homeownership Opportunity Program, which received a combined total of $1.1 billion in the previous fiscal year.

Also on the chopping block is funding for Section 4 Capacity Building for Community Development and Affordable Housing, which received $35 million in the previous fiscal year. The administration stated that the program “is duplicative of efforts funded by philanthropy and other more ﬂexible private sector investments.” However, the budget blueprints calls for $130 million for the promotion of healthy and lead-safe homes, an increase of $20 million from the previous fiscal year.

The budget blueprint also voiced support for “homeownership through provision of Federal Housing Administration mortgage insurance programs,” but no price tag was attached to that aspect of the HUD budget.

About the author

Phil Hall

Link copied

Published

Mar 16, 2017

Analysis and Data

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

The September jobs report gave the mortgage market something it hasn't had much of lately: downward pressure on Treasury yields.U.S. employers added just 29,000 jobs in September, while the unemployment rate edged up to 4.2%, according to the Bureau of Labor Statistics. The ...

Wholesale

The Loan Store Rebrands As Averra Financial

The wholesale lender is adopting a new identity three years after acquiring Homepoint’s wholesale business and rising to No. 4 in industry rankings

The Loan Store has a new name after a three-year expansion that transformed the once-small wholesale lender into one of the largest players in the broker channel.The Tucson, Arizona-based lender has rebranded as Averra Financial Inc., effective immediately, the company annou...

Nov

Houston, TX

More from

Analysis and Data

Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Analysis and Data

Oct 02, 2026

Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Analysis and Data

Oct 01, 2026

Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Analysis and Data

Sep 29, 2026

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Analysis and Data

Sep 25, 2026

Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Analysis and Data

Sep 25, 2026

Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Tech

Sep 23, 2026

Popular