WASHINGTON -- The Clinton Administration may soon propose radical changes for HUD, including transforming the Federal Housing Administration into a private corporation and merging dozens of programs into a few big block grants, housing industry officials said yesterday.

Housing and Urban Development Secretary Henry Cisneros suggested the restructuring to President Clinton to stave off a plan under consideration at the White House to abolish HUD entirely and shift its functions to other bodies, the industry officials said. Cisneros gave them details of his proposals in private meetings earlier this week.

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