The Federal Housing Finance Agency [1] (FHFA) announced on September 13, 2023, that it will begin accepting membership applications [2] for its Federal Advisory Committee on Affordable, Equitable, and Sustainable Housing.
The Committee will advise FHFA on affordable, equitable, and sustainable housing needs and any regulatory or policy changes that may be necessary or beneficial to provide reliable liquidity to housing finance markets, especially in underserved areas in the United States. The Committee is advisory only and will have no decision-making authority for FHFA.
The FHFA is seeking experts from a variety of fields to focus on an array of housing topics, including fair lending, fair housing, civil rights, capital markets, investments, single- and multifamily lending, community advocacy, Low-Income Housing Tax Credits, research, and more.
"Broad stakeholder engagement leads to better policy that positively impacts housing affordability and access in communities across the country," said FHFA Director Sandra L. Thompson. "I look forward to hearing recommendations from the new Advisory Committee that will be representative of diverse communities, points of view, organizational sizes, and geographic locations."
The Federal Housing Finance Agency (FHFA) does not accept applications from federally registered lobbyists or current elected officials for a position on the advisory committees. Current FHFA employees, managers, or board of directors members of Fannie Mae, Freddie Mac, the Federal Home Loan Banks, and the Finance Board are also not eligible for membership.
The FHFA’s Advisory Committee will be comprised of a broad range of experts and stakeholders who will provide input to the Director on issues related to housing finance. Stakeholders in the housing industry and community for both single-family and multi-family housing are needed to address pressing issues and concerns facing Americans today; issues regarding affordability, lack of housing supply, access to credit, sustainability, and equity are paramount.
In considering membership to the Committee, FHFA will focus on the priorities and mission of FHFA as regulator of Fannie Mae [3], Freddie Mac [4], and the Federal Home Loan Bank System [5].
Selection Criteria
The FHFA seeks members with expertise in one or more of the following areas:
- Fair housing, fair lending, or civil rights
- Single-family lending, servicing, development, mortgage, or capital markets
- Multifamily lending, servicing, development, mortgages, capital markets, or investments (i.e. Low-Income Housing Tax Credits)
- Consumer, tenant, or community advocacy
- Housing market technology
- State, local, or tribal government housing policies and programs
- Academics with a strong research and publishing or practitioner background, and a record of involvement in research and public policy, including public or academic service
FHFA will accept applications for 30 days, beginning with a notice to be published in the Federal Register. Only completed applications received by 11:59 PM on October 13, 2023, will be considered for membership. New members of the advisory committee will serve for a two-year term. Committee members are not compensated; however, reimbursement for travel, lodging, and other expenses are available. Applicants can be nominated by a third party, such as a Congressional member, State organization, or other groups.
Members of the public interested in being considered to serve on the Committee may apply via the Committee’s new webpage, here [2].