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When glancing at any real estate investment menu, the first thing encountered is an alphabet soup of government agencies, or government chartered entities. Among them are:

HUD The United States Department of Housing and Urban Development, is a Cabinet department of the United States. Although its beginnings were in the House and Home Financing Agency, it was founded in 1965 to develop and execute policy on housing and cities. It has largely scaled back its urban development function and now focuses primarily on housing.
The department was established on September 9, 1965 when President Lyndon Johnson signed the Department of Housing and Urban Development Act (PL 89-174) into law. It stipulated that the department was to be created no later than November 8, 60 days following the date of enactment. The actual implementation was postponed until January 13, 1966, following the completion of a special study group report on the federal role in solving urban problems.
HUD is administered by the United States Secretary of Housing and Urban Development.

FHA Congress created the Federal Housing Administration (FHA) in 1934. The FHA became a part of the Department of Housing and Urban Development's (HUD) Office of Housing in 1965
The Federal Housing Administration, provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals. It is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934.
FHA mortgage insurance provides lenders with protection against losses as the result of homeowners defaulting on their mortgage loans. The lenders bear less risk because FHA will pay a claim to the lender in the event of a homeowner's default. Loans must meet certain requirements established by FHA to qualify for insurance.

Fannie Mae (FNMA)
Federal National Mortgage Association. Federally chartered, stockholder owned corporation supporting secondary market for FHA, VA, and conventional mortgages.

Freddie Mac (FHLMC)
Federal Home Loan Mortgage Corporation. Federally chartered stockholder owned corporation supporting secondary market for conventional mortgages.

VA The VA Loan Guaranty Service is the organization within the Veterans Benefits Administration charged with the responsibility of administering the home loan program to U.S. military veterans.
for extensive information visit: http://www.hud.gov/offices/hsg/fhahistory.cfm