HUD, administration announce Promise Zone competition

WASHINGTON — The regulator of Fannie Mae and Freddie Mac laid out new policies Tuesday that could make it easier for many Americans to obtain mortgages, in part by holding off on any reduction in the.

Twenty-two Promise Zones were selected through three rounds of national competition. The U.S. Department of Housing and Urban Development (HUD), oversees 14 urban Promise Zones, and the U.S. Department of Agriculture (USDA) oversees 8 rural and tribal Promise Zones.