The U.S. Department of Housing and Urban Development (HUD) on Tuesday led federal housing and banking agencies in officially rescinding interagency guidance from 2022 that promoted the expansion of special purpose credit programs (SPCPs) for the provision of mortgage credit.
Notice published in the Federal Register said the withdrawal of the Biden administration guidance was being executed in compliance with a series of executive orders President Donald Trump has signed during his second term aimed at deregulation and what the administration describes as “restoring equality of opportunity and meritocracy.” 
“Accordingly, agencies are revisiting prior guidance that may have sanctioned or encouraged participation in discriminatory programs an...