Temporary Pause of Agency Grant, Loan, and Other Financial Assistance Programs

As you may know, an Executive Order was issued last night initiating a "Temporary Pause of Agency Grant, Loan, and Other Financial Assistance Programs." Details are still emerging.

Today, the Office of Management and Budget (OMB) released a list of programs under review, which includes the Housing Credit and most major HUD programs. Federal agencies must provide OMB with additional information by February 7.

In the meantime, OMB has issued a Q&A document that provides some additional clarity:

• Agencies will work with OMB to determine whether programs align with the Executive Order. Some pauses may last only a day, and OMB has already approved many programs to continue without interruption.
  
  
• Payments required by law will proceed as scheduled.
  
  
• The pause does not apply universally to all Federal financial assistance; it is targeted to specific programs and activities under review.

Per the Q&A, please note: "Funds for small businesses, farmers, Pell grants, Head Start, rental assistance, and other similar programs will not be paused."

We understand additional guidance may be issued later today. It's also worth noting that Cabinet Secretaries and agency leaders have flexibility in how they implement this process, though few specific decisions have been confirmed so far.

We appreciate your partnership and the critical work you do in providing housing for families through our programs. Please know we are closely monitoring developments and will share updates as soon as more information becomes available.

Thank you so much for your patience, help and understanding.