Deep cuts at the Department of Housing and Urban Development (HUD) are likely to increase the cost of homes, upend housing markets and complicate mortgage transactions, current and former agency staffers told the Washington Post.

HUD’s workforce is expected to be cut in half — from about 8,300 employees to just over 4,000 — with huge cuts in field offices nationwide, according to an internal memo obtained by the newspaper. There are 65 field offices across 10 regions. Many of the projected cuts will be felt at the Federal Housing Administration, one of the largest mortgage insurers details ⇒

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