CHARTER OF THE MISSION AND HOUSING SUSTAINABILITY 

 COMMITTEE OF THE BOARD OF DIRECTORS 

OF THE FEDERAL HOME LOAN MORTGAGE CORPORATION 

Effective October 24, 2023 

Organization, Membership Requirements and Committee Processes 

The Mission and Housing Sustainability Committee (the “Committee”) of the Board of Directors 

(the “Board”) of the Federal Home Loan Mortgage Corporation (“Freddie Mac”) shall consist of 

at least three members appointed by the Board, following notice to the Federal Housing Finance 

Agency, as Conservator of Freddie Mac (the “Conservator”). One member of the Committee 

shall be designated by the Board as the Chair of the Committee, and such Chair shall be 

independent under the standards set forth in Freddie Mac’s Corporate Governance Guidelines 

(the “Guidelines”) (which includes not serving in a management capacity at Freddie Mac). 

The Committee Chair shall report regularly to the Board on the Committee’s activities and 

minutes of the Committee’s meetings shall be submitted to the Board. 

The members of the Committee shall have access to any employee of Freddie Mac. The 

Committee may engage such outside consultants or advisors, including, but not limited to, 

attorneys, accountants, auditors, and other consultants, as it may deem appropriate to fulfill its 

responsibilities. The engagement of such consultants and advisors shall be subject to the 

approval of the Committee and the Conservator, to the extent set forth in the section below titled 

“Conservator Approval.” Freddie Mac shall provide appropriate funding for the retention of any 

such consultants or advisors, and for other necessary and appropriate administrative expenses 

of the Committee, all as determined by the Committee. 

The Chair of the Committee will collaborate with the Chairs of any of the other Board 

committees when necessary or desirable to facilitate each of the Board committees in fulfilling 

their respective responsibilities. The Committee may meet in joint session with any other Board 

committee to discuss matters that are pertinent to both Committees. 

To the extent consistent with applicable laws, regulations, stock exchange listing standards and 

conservatorship orders or directives, the Committee responsibilities listed below may, in the 

alternative, be satisfied by actions of the full Board or by another Board committee acting at the 

direction of the Board or the Board's Chair. 

Purpose, Powers, Duties and Responsibilities of the Committee 

The Committee is hereby charged by the Board with the authority and responsibilities set forth 

below. For the avoidance of doubt, notwithstanding anything set forth below, each other 

committee of the Board shall continue to have the authorities and responsibilities set forth in its 

respective charter, including, among other matters, oversight of: Freddie Mac’s risk 

management framework, including for climate risk, which would remain at the Risk Committee; 

external reporting and disclosure on all matters which would remain at the Audit Committee; 

corporate governance, which would remain at the Nominating and Governance Committee; 

employee and supplier programs and inclusion and diversity initiatives, which would remain at 

the Compensation and Human Capital Committee; and information, operations and technology 

strategies and initiatives, which would remain at the Operations and Technology Committee.
Mission and Housing Sustainability Committee Charter 

October 24, 2023 

Page 2 

1. Mission. Freddie Mac’s mission, as a government sponsored enterprise, is to provide 

liquidity, stability, and affordability to the U.S. housing market. To further the 

affordability and housing sustainability elements of this mission commitment, the 

Committee will oversee the development, planning, implementation, performance, and 

execution of Freddie Mac’s strategies and significant initiatives related to delivering on 

its commitment to promote affordability, equity, and sustainability in housing. In 

particular, the Committee’s oversight responsibilities shall include: 

(a) The development and execution of strategies, initiatives and activities (including as 

reflected in FHFA and corporate scorecards) designed to help the Company: (i) meet 

its affordable housing and duty-to-serve goals, (ii) increase sustainable access to 

credit, and (iii) implement its housing sustainability and equitable housing initiatives 

(including the plans developed by management to carry out such initiatives, e.g., 

Equitable Housing Finance Plan and Expanding Sustainable Homeownership Plan). 

(b) Compliance with fair lending laws and regulations, including oversight as needed of a 

fair lending compliance program and review of fair lending implications of certain key 

mission and housing sustainability initiatives. 

(c) The review of management reporting relating to the Company’s execution against its 

mission, housing sustainability and fair lending strategies and initiatives, which 

reporting may include quantitative and qualitative metrics that provide insights and 

measure progress; and 

(d) The review of initiatives (and related reporting and disclosures) designed to promote 

the adaptation of housing to be more resilient in the face of climate change or 

improvements to mitigate housing’s climate impacts (e.g., Impact Bonds). 

2. Committee Operations and Charter: At least annually, to: 

(a) Review, under the oversight of the Nominating and Governance Committee, this 

Committee’s performance, including review of its structure and operations (including 

authority to delegate to subcommittees), its process for reporting to the Board, and 

the process for determining membership of the Committee; and 

(b) Review and reassess the adequacy of the Committee’s Charter and recommend for 

approval by the Board any changes that it deems appropriate. 

3. Other Duties: To perform such other duties as may be assigned from time to time by the 

Board, including as set forth in the Guidelines, or requested by the Non-Executive Chair. 

4. Conservator Approval: Board or Committee action and Conservator approval shall be 

required for any matter that is designated by the Conservator as requiring such approval.