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Aug. 15 Deadline for FHLBank Director Applications
EDITOR'S NOTE: The process for applying for public interest director positions has been changed under the housing stimulus legislation signed into law on July 30. Information on the new procedures will appear in the Aug. 11 issue of this publication.
The deadline to apply for Federal Home Loan Bank (FHLBank) public interest director positions is looming, and NAHB members who are interested should contact the association’s staff no later than Aug. 15.
Each year, the Federal Housing Finance Board (FHFB) appoints public interest directors to serve on the boards of each of the 12 FHLBanks. Under FHFB rules, applicants for these positions must submit eligibility forms to the bank for their district. Candidates can also attach a resume to the form to provide information on additional business, professional or educational achievements that are not otherwise reflected on the application.
To access the eligibility form, click here.
Each FHLBank board is responsible for conducting a preliminary assessment of candidates in its district and forwarding the most qualified candidates to the FHFB for consideration by Oct. 1. The banks are allowed to submit up to two names per vacancy for the FHFB’s approval.
Interested parties such as NAHB are allowed to make recommendations to the FHLBank boards on behalf of individuals they believe are well-qualified for the position. However, candidates are still required to complete and submit their eligibility forms before those recommendations can be considered.
NAHB has established a process for assisting members who are interested in serving on FHLBank boards. To view NAHB’s nomination and recommendation process, association members can click here.
(Housing stimulus legislation currently under consideration in the Congress may change the process for determining FHLBank directors to one in which all directorships are elected by member institutions.)
If you are interested in applying for a directorship and wish to be considered for an NAHB recommendation, e-mail John Dimitri or call him at 800-368-5242 x8529 no later than Aug. 15.
 Want to Know the Housing Forecast for the Top 100 Metros?
Find out in HousingEconomic.com’s 2008 to 2009 Metro Forecast (free preview).
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To learn more, visit www.HousingEconomics.com.
 Free NAHB Kit Gives Builders Back-to-Basics Tips to Navigate the Slowdown
What was once expected to be a relatively mild housing slump following three years of record new home construction and sales has given way to a significant downturn.
To help members navigate the uncharted waters of this slowdown, NAHB has compiled a comprehensive “Back to Basics” online toolkit — the best of the basics, the tried and true and the truly new. To access the toolkit, click here.
To access the “Back to Basics” toolkit, you must be an NAHB member and have a login to www.nahb.org. To create a login, go to www.nahb.org/login or click on the log-in button on the main menu bar.
For assistance, call the NAHB Member Service Center at 800-368-5242.
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