condominium properties, such notice shall con-
tain the same information about such properties
that the notice required under paragraph (14)(A)
contains with respect to eligible condominium
properties.
‘‘(C) 
AVAILABILITY.—The 
clearinghouses
shall make such information available, upon re-
quest, to other public agencies, other nonprofit
organizations, qualifying households, qualifying
multifamily purchasers, and other purchasers, as
appropriate.
‘‘(D) DEFINITIONS.—For purposes of this
paragraph:
‘‘(i) INELIGIBLE CONDOMINIUM PROP-
ERTY.—The term ‘ineligible condominium
property’ means a condominium unit, as
such term is defined in section 604 of the
Housing and Community Development Act
of 1980—
‘‘(I) to which the Corporation ac-
quires title in its corporate capacity,
its capacity as conservator, or its ca-
pacity as receiver (including its capac-
ity as the sole owner of a subsidiary
corporation of a depository institution
under conservatorship or receivership,
which subsidiary corporation has as its
principal business the ownership of
real property);
‘‘(II) that has an appraised value
that does not exceed the applicable dol-
lar amount limitation for the property
under paragraph (9)(D)(ii)(II); and
‘‘(III) that is not an eligible con-
dominium property.
‘‘(ii) INELIGIBLE MULTIFAMILY HOUS-
ING PROPERTY.—The term ‘ineligible multi-
family housing property’ means a property
consisting of more than 4 dwelling units—
‘‘(I) to which the Corporation ac-
quires title in its capacity as conserva-
tor (including its capacity as the sole
owner of a subsidiary corporation of a
depository 
institution 
under
conservatorship, which subsidiary cor-
poration has as its principal business
the ownership of real property);
‘‘(II) that has an appraised value
that does not exceed, for such part of
the property as may be attributable to
dwelling use (excluding exterior land
improvements), the dollar amount lim-
itations under paragraph (9)(E)(i)(II);
and
‘‘(III) that is not an eligible mul-
tifamily housing property.
‘‘(iii) 
INELIGIBLE
SINGLE
FAMILY
PROPERTY.—The term ‘ineligible single
family property’ means a 1- to 4-family
residence 
(including 
a 
manufactured
home)—
‘‘(I) to which the Corporation ac-
quires title in its corporate capacity,
its capacity as conservator, or its ca-
pacity as receiver (including its capac-
ity as the sole owner of a subsidiary
corporation of a depository institution
under conservatorship or receivership,
which subsidiary corporation has as its
principal business the ownership of
real property);
‘‘(II) that has an appraised value
that does not exceed the applicable dol-
lar amount limitation for the property
under paragraph (9)(G)(ii)(II); and
‘‘(III) that is not an eligible sin-
gle family property.
‘‘(iv) INELIGIBLE RESIDENTIAL PROP-
ERTY.—The 
term 
‘ineligible 
residential
property’ includes ineligible single family
properties, ineligible multifamily housing
properties, and ineligible condominium
properties.’’.
(2) FDIC.—Section 40 of the Federal Deposit
Insurance Act (12 U.S.C. 1831q) is amended by add-
ing at the end the following new subsection:
‘‘(q) NOTICE TO CLEARINGHOUSES REGARDING INELI-
GIBLE PROPERTIES.—
‘‘(1) IN GENERAL.—Within a reasonable period
of time after acquiring title to an ineligible residen-
tial property, the Corporation shall provide written
notice to clearinghouses.
‘‘(2) CONTENT.—For ineligible single family
properties, such notice shall contain the same infor-
mation about such properties that the notice required
under subsection (c)(1) contains with respect to eligi-
ble single family properties. For ineligible multifam-
ily housing properties, such notice shall contain the
same information about such properties that the no-
tice required under subsection (d)(1) contains with re-
spect to eligible multifamily housing properties. For
ineligible condominium properties, such notice shall
contain the same information about such properties
that the notice required under paragraph (l)(1) con-
tains with respect to eligible condominium properties.
‘‘(3) AVAILABILITY.—The clearinghouses shall
make such information available, upon request, to
other public agencies, other nonprofit organizations,
qualifying households, qualifying multifamily pur-
chasers, and other purchasers, as appropriate.
‘‘(4) DEFINITIONS.—For purposes of this sub-
section:
‘‘(A) 
INELIGIBLE
CONDOMINIUM
PROP-
ERTY.—The term ‘ineligible condominium prop-
erty’ means any eligible condominium property
to which the provisions of this section do not
apply as a result of the limitations under sub-
section (b)(2)(A).
‘‘(B) INELIGIBLE
MULTIFAMILY
HOUSING
PROPERTY.—The term ‘ineligible multifamily
housing property’ means any eligible multifam-
ily housing property to which the provisions of
this section do not apply as a result of the limi-
tations under subsection (b)(2)(A).
‘‘(C) INELIGIBLE
SINGLE
FAMILY
PROP-
ERTY.—The term ‘ineligible single family prop-
erty’ means any eligible single family property
to which the provisions of this section do not
apply as a result of the limitations under sub-
section (b)(2)(A).
‘‘(D) 
INELIGIBLE
RESIDENTIAL
PROP-
ERTY.—The term ‘ineligible residential property’
includes ineligible single family properties, ineli-
gible multifamily housing properties, and ineli-
gible condominium properties.’’.
(b) NEGOTIATED SALE PREFERENCE FOR USE FOR
HOMELESS FAMILIES.—
(1) RTC.—Section 21A(c)(13) of the Federal
Home Loan Bank Act (12 U.S.C. 1441a(c)(13)) is
amended by adding at the end the following new sub-
paragraph:
‘‘(C) PREFERENCE FOR USE FOR HOMELESS
FAMILIES.—In negotiating and selling an eligi-
ble residential property under this paragraph,
the Corporation shall give preference to any offer
to purchase the property for use in providing
housing or shelter for homeless individuals (as
such term is defined in section 103 of the Stew-
art B. McKinney Homeless Assistance Act) or
homeless families, but only if the Corporation de-
termines that such sale will result in net present
value proceeds substantially similar to the
amount of such proceeds that would have resulted
from sale of the property under this subsection
(other than under this paragraph).’’.
(2) FDIC.—Section 40(k) of the Federal Deposit
Insurance Act (12 U.S.C. 1831q(k)) is amended by
adding at the end the following new paragraph:
‘‘(3) PREFERENCE
FOR
USE
FOR
HOMELESS
FAMILIES.—In negotiating and selling an eligible res-
idential property under this subsection, the Corpora-
tion shall give preference to any offer to purchase the
property for use in providing housing or shelter for
homeless individuals (as such term is defined in sec-
tion 103 of the Stewart B. McKinney Homeless As-
sistance Act) or homeless families, but only if the Cor-
poration determines that such sale will result in net
present value proceeds substantially similar to the
amount of such proceeds that would have resulted
from sale of the property under this section (other
than under this subsection).’’.
(c) AFFORDABLE HOUSING ADVISORY BOARD.—
(1) ESTABLISHMENT.—There is hereby estab-
lished the Affordable Housing Advisory Board (in this
subsection referred to as the ‘‘Advisory Board’’) to ad-
vise the Thrift Depositor Protection Oversight Board
and the Board of Directors of the Federal Deposit In-
surance Corporation on policies and programs related
to the provision of affordable housing, including the
operation of the affordable programs.
(2) MEMBERSHIP.—The Advisory Board shall
consist of—
(A) the Secretary of Housing and Urban
Development;
(B) the Chairperson of the Board of Direc-
tors of the Federal Deposit Insurance Corpora-
tion (or the Chairperson’s delegate), who shall be
a nonvoting member;
(C) the Chairperson of the Thrift Depositor
Protection Oversight Board (or the Chairperson’s
delegate), who shall be a nonvoting member;
(D) 4 persons appointed by the Secretary of
Housing and Urban Development not later than
the expiration of the 90-day period beginning on
the date of the enactment of this Act, who rep-
resent the interests of individuals and organiza-
tions involved in using the affordable housing
programs (including nonprofit organizations,
public agencies, and for-profit organizations that
purchase properties under the affordable housing
programs, organizations that provide technical
assistance regarding the affordable housing pro-
grams, and organizations that represent the in-
terest of low- and moderate-income families);
and
(E) 2 persons who are members of the Na-
tional Housing Advisory Board pursuant to sec-
tion 21A(d)(2)(B)(ii) of the Federal Home Loan
Bank Act (as in effect before the date of the effec-
tiveness of the repeal under subsection (c)(2)),
who shall be appointed by such Board before
such effective date.
(3) TERMS.—Each member shall be appointed
for a term of 4 years, except as provided in para-
graphs (4) and (5).
(4) TERMS OF INITIAL APPOINTEES.—
(A) PERMANENT POSITIONS.—As designated
by the Secretary of Housing and Urban Develop-
ment at the time of appointment, of the members
first appointed under paragraph (2)(D)—
(i) 1 shall be appointed for a term of
1 year;
(ii) 1 shall be appointed for a term of
2 years;
(iii) 1 shall be appointed for a term of
3 years; and
(iv) 1 shall be appointed for a term of
4 years.
(B) INTERIM MEMBERS.—The members of
the Advisory Board under paragraph (2)(E)
shall be appointed for a single term of 4 years,
which shall begin upon the earlier of (i) the expi-
ration of the 90-day period beginning on the
date of the enactment of this Act, or (ii) the first
meeting of the Advisory Board.
(5) VACANCIES.—Any member appointed to fill a
vacancy occurring before the expiration of the term
for which the member’s predecessor was appointed
shall be appointed only for the remainder of that
term. A member may serve after the expiration of that
member’s term until a successor has taken office. A
vacancy in the Commission shall be filled in the man-
ner in which the original appointment was made.
(6) MEETINGS.—
(A) TIMING AND LOCATION.—The Advisory
Board shall meet 4 times a year, or more fre-
quently if requested by the Thrift Depositor Pro-
tection Oversight Board or the Board of Direc-
tors of the Federal Deposit Insurance Corpora-
tion. In each year, the Advisory Board shall con-
duct such meetings at various locations in dif-
ferent regions of the United States in which sub-
stantial residential property assets of the Federal
Deposit Insurance Corporation or the Resolution
Trust Corporation are located. The first meeting
of the Advisory Board shall take place not later
than the expiration of the 90-day period begin-
ning on the date of the enactment of this Act.
(B) ADVICE.—The Advisory Board shall
submit information and advice resulting from
each meeting, in such form as the Board consid-
ers appropriate, to the Thrift Depositor Protec-
tion Oversight Board and the Board of Directors
of the Federal Deposit Insurance Corporation.
(7) ANNUAL REPORTS.—For each year, the Advi-
sory Board shall submit a report containing its find-
ings and recommendations to the Congress, the Fed-
eral Deposit Insurance Corporation, and the Resolu-
tion Trust Corporation. The first such report shall be
made not later than the expiration of the 6-month pe-
riod beginning on the date of the enactment of this
Act.
(8) DEFINITION.—For purposes of this sub-
section, the term ‘‘affordable housing programs’’
means the program under section 21A(c) of the Fed-
eral Home Loan Bank Act and the program under
section 40 of the Federal Deposit Insurance Act.
(9) APPOINTMENT OF CERTAIN ADVISORY
BOARD
MEMBERS.—Members 
appointed
under paragraph (2)(D) shall be ap-
pointed to represent specific interests
and shall not be considered employees of
the executive branch or special Govern-
ment employees for purposes of sections
203 through 209 of title 18, United States
Code.
(d) TERMINATION OF NATIONAL HOUSING ADVISORY
BOARD.—
(1) TERMINATION.—The National Housing Advi-
sory Board under section 21A(d)(2) of the Federal
Home Loan Bank Act shall terminate upon the expi-
ration of the 90-day period beginning on the date of
the enactment of this Act.
(2) REPEAL.—Paragraph (2) of section 21A(d)
of the Federal Home Loan Bank Act is repealed upon
the expiration of the period referred to in paragraph
(1).
(e) PROVISION OF INFORMATION REGARDING SELLER
FINANCING
TO MINORITY- AND WOMEN-OWNED BUSI-
NESSES.—
(1) RTC.—Section 21A(c)(6)(A)(ii) of the Fed-
eral Home Loan Bank Act is amended by adding at
the end the following new sentences: ‘‘The Corporation
shall periodically provide, to a wide range of
minority- and women-owned businesses engaged in
providing affordable housing and to nonprofit organi-
zations, more than 50 percent of the control of which
are held by 1 or more minority individuals, that are
engaged in providing affordable housing, information
that is sufficient to inform such businesses and orga-
nizations of the availability and terms of financing
under this clause; such information may be provided
directly, by notices published in periodicals and other
publications that regularly provide information to
such businesses or organizations, and through persons
and organizations that regularly provide information
or services to such businesses or organizations. For
purposes of this clause, the terms ‘women-owned busi-
ness’ and ‘minority-owned business’ have the mean-
ings given such terms in subsection (r), and the term
‘minority’ has the meaning given such term in section