Sec. 283. Advisory Board
222 words·~1 min read·
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The Secretary of Housing and Urban Development shall establish an advisory board to provide advice to the Board of Directors of the FHA regarding establishing and organizing the FHA and creating the business plan, premium structure, and product lines of the FHA. In carrying out its responsibilities under subsection
(a)the advisory board may— obtain guidance from participants in the mortgage markets to be served by the FHA; assess the housing and mortgage credit needs; obtain information concerning single family housing finance markets to assess how the FHA can complement the roles of public and private participants in such markets; and consult with the relevant Federal agencies generally regarding how the FHA can improve the delivery of single family housing credit enhancement to families, communities, and hard-to-serve markets. The advisory board shall consist of— the Assistant Secretary of Housing and Urban Development who is the Federal Housing Commissioner; the Administrator of the Rural Housing Service of the Department of Agriculture; not less than 5 individuals appointed by the Secretary who are representatives of the mortgage finance industry; and not less than 2 individuals who have expertise in affordable housing serving low- and moderate-income populations. Members of the advisory board shall serve at the pleasure of the Secretary. The advisory board shall terminate upon the expiration of the transition period under section 281.