Office of Policy Development and Research (PD&R) supervises the Department's research activities and the development of its policies and is responsible for experimental housing and technical studies. PD&R develops a research agenda to reflect the overall policy needs of the Department; performs background analyses, studies, and priority assessments concerning housing and community development issues; provides economic analyses and recommendations, performs housing and financial market research, and designs and monitors several housing related data series; evaluates existing and new HUD programs to determine whether these programs are reaching their intended beneficiaries and providing the intended results, whether program costs are reasonable, and whether programs are having any unintended effects; analyzes the adequacy of existing and proposed program information systems and implement improvements or create systems to support new programs; evaluate new housing and construction materials and techniques and develop ways to encourage use of new technology; supports the Secretary in carrying out his regulatory oversight of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation and prepares annual reports to the Congress; manages research contracts, cooperative agreements, and grants; and administers the Office of University Partnerships and oversees grants awarded for general research and technology, the Community Development Work Study Program, Hispanic-Serving Institutions Work Study Program, and the Community Outreach Programs.