Federal Housing Finance Board Law and Legal Definition

The Federal Housing Finance Board ("Board") is a federal agency. It was created in response to the savings and loan crisis and replaced the Federal Home Loan Bank Board. It regulates the twelve federal home loan banks in the U.S. The Board was created in the aftermath of the savings and loan crisis to take over federal home loan banks. The board was entirely funded by fees assessed to federal home bank loans, and did not directly receive any taxpayer funds. [12 CFR 905.2].