national voluntary mortgage credit extension committee

national voluntary mortgage credit extension committee Sec. 603. There is hereby established a National Voluntary Mortgage Credit Extension Committee, hereinafter called the “National Committee”, which shall consist of the Housing and Home Finance Administrator, who shall act as Chairman of the National Committee, and fourteen other persons appointed by the Administrator as follows: (a) Two representatives of each type of private financing institutions ; (b) Two representatives of builders of residential properties; and (c) Two representatives of real estate boards. 68 Stat. 638 The Administrator shall also request the Board of Governors of the Federal Reserve System to designate a representative of the Board to serve on the National Committee in an advisory capacity. The Administrator shall also request the Administrator of Veterans’ Affairs to designate a representative to serve on the National Committee in an advisory capacity. The Administrator shall also request the Home Loan Bank Board to designate a representative of the Board to serve on the National Committee in an advisory capacity. In selecting and appointing the members of the National Committee, the Administrator shall have due regard to fair representation thereon for small, medium, and large private financing institutions and for different geographical areas. Members of the National Committee appointed by the Administrator shall serve on a voluntary basis.