Federal Housing Finance Board

FEDERAL HOUSING FINANCE BOARD

1777 F Street NW., Washington, DC 20006

Phone, 202-408-2500

Board of Directors:

Chairman Bruce A. Morrison

Members: Lawrence U. Costiglio, J. Timothy O'Neill,

(vacancy)

(Secretary of Housing and Urban Andrew M. Cuomo

Development, ex officio)

Housing and Urban Development Nicolas P. Retsinas

Secretary's Designee to the Board

Special Assistants to the Karen H. Crosby, Mindy Chairman Turbov

Executive Assistant to the HUD James H. Gray

Secretary

Assistants to the Board Melissa L. Allen, Directors Julie P. Fallon

Officials:

Managing Director (vacancy)

Inspector General Edward Kelley

General Counsel Deborah F. Silberman, Acting

Director, Office of Supervision Mitchell Berns

Director, Office of Policy Karen H. Crosby, Acting

Director, Office of Congressional Affairs Randall H. MacFarlane

Director, Office of Public Affairs Naomi P. Salus

Director, Office of Resource Management Barbara L. Fisher

Secretary to the Board Elaine L. Baker

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The Federal Housing Finance Board is responsible for the administration and enforcement of the Federal Home Loan Bank Act, as amended.

The Federal Housing Finance Board (Finance Board) was established on August 9, 1989, by the Federal Home Loan Bank Act, as amended by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989

(FIRREA) (12 U.S.C. 1421 et seq.), as an independent regulatory agency in the executive branch. The Finance Board succeeded the Federal Home Loan Bank Board for those functions transferred to it by FIRREA.

The Finance Board is governed by a five-member Board of Directors. Four members are appointed by the President with the advice and consent of the Senate for 7-year terms; one of the four is designated as Chairman. The Secretary of the Department of Housing and Urban Development is the fifth member and serves in an ex officio capacity.

The Finance Board supervises the 12 Federal Home Loan Banks created in 1932 by the Federal Home Loan Bank Act and issues regulations and orders for carrying out the purposes of the provisions of that act. Savings associations, commercial banks, savings banks, credit unions, insurance companies, and other institutions specified in section 4 of the act that make long-term home-mortgage loans are eligible to become members of the Federal Home Loan Bank. The Finance Board supervises the Federal Home Loan Banks and ensures that they carry out their housing...

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