Housing Policy Council

“HPC has one class of voting members. A business entity shall be eligible to be a Member if it applies for membership, meets the criteria set forth below for membership, is approved by the Executive Council, agrees to pay the dues as set and adjusted from time to time, and is a company that is engaged in: (1) lending for, servicing of, dealing in, or investing in first lien mortgages on single-family properties; (2) mortgage insurance, credit enhancement, or title insurance on mortgages backed by single-family properties; or (3) technology, data services, settlement services, or other related financial, technological, or insurance, or data services in direct support of the single-family residential mortgage market. The initial Members of HPC shall be those business entities that on the date of adoption of the Bylaws were members of the unincorporated Housing Policy Council that was associated with the Bank Policy Institute.”

“Each Member shall designate, with approval of the Membership and Governance Committee, one senior officer as its Executive Council representative (HPEC Representative). Only that individual may vote on behalf of that Member in any vote of the Executive Council or governing committee of HPC.”

“Each Member shall have one vote on each matter that may be brought before the membership for a vote, except as explicitly provided in the Bylaws.”

“The 990 is reviewed by the President and then reviewed and approved by the Internal Affairs Committee. The 990 is also shared with the entire board for awareness and comment after the Internal Affairs Committee review and prior to filing with the IRS.”

“Each officer and HPEC Representative shall annually sign a statement which affirms such person: Has received a copy of this conflict of interest policy; Has read and understands the policy; Has agreed to comply with the policy; and Understands that HPC is a trade association or business league, and in order to maintain its federal tax exemption must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

“The compensation for the HPC President is determined by the Chairman's Committee of the Executive Council, which also reviews and approves compensation for other staff, including all incentive compensation payments.”

“Documents are made available to the public upon request.”

“Our interest is in the safety and soundness of that system, the equitable and consistent regulatory treatment of all market participants, and the promotion of lending practices that create sustainable home ownership opportunities leading to long-term wealth-building and community-building for families. Members of HPC are committed to working together and with all other stakeholders to realize a housing finance system that expands opportunity, improves the customer experience, improves efficiency, reduces uncertainty, and operates safely and soundly.”

“The Council's Audit Committee assumes the responsibility for oversight of the audit of its financial statements and selection of an independent accountant.”