Word: huds
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...study, which may be used to formulate national policy, is being financed by a $360,000 grant from the Federal Department of Housing and Urban Development (HUD...
Responsibility for preventing such abuses rests with HUD Secretary George Romney, whose department includes the poorly administered FHA. In an eloquent if self-serving speech, Romney tried to divert attention to the broader problems of the ghetto, noting that bad housing was a result rather than a cause of ghetto squalor...
...Although HUD is a sprawling agency difficult to control from the top, its local officials should have known their areas well enough to spot the inflated house values. Belatedly, HUD has worked with the Justice Department to initiate investigations. It has tightened regulations to provide better verification of values and buyers' credit...
Romney defended the FHA for its willingness to insure home mortgages in high-risk areas when private lenders had long refused to do so. "Our department has made mistakes," Romney said, "but we will not abandon the central city as so many have done." HUD, he insisted, will "not abandon even a single house-we either rehabilitate and sell it, or we demolish...
...with only "a black minority held back from entrance into broader society, not only by racial prejudice and economic classism, but by the growing fear stereotype that unfairly labels them with social menace." None of that, said Romney, can be dealt with "by hiding behind scapegoats -whether Secretary Romney, HUD, the Nixon Administration or any other available target...