Following is an excerpt from a letter sent to clients by Brownstein Zeidman & Lore, a Washington law firm. It was written by partners Kenneth G. Lore and Harold A. Levy.
Major changes to HUD's programs are inevitable during the next session of Congress. What is uncertain is whether the proposal of HUD Secretary Henry Cisneros will be accepted by the Republican-led Congress or whether fiscal conservatives will succeed in enacting more drastic changes, such as converting FHA into a government-sponsored enterprise, or dismantling HUD, as incoming Speaker of the House Newt Gingrich has suggested.