Washington, D.C. — Michael A. Stegman, founder and former director of the UNC Center for Community Capital, has been tapped to join U.S. Secretary of the Treasury Timothy Geithner’s team as an advisor on housing finance policy. Stegman most recently served as director of policy and housing for U.S. programs at the John D. and Catherine T. MacArthur Foundation.
Stegman founded the UNC Center for Community Capital in 1997 while serving as chair of the University of North Carolina at Chapel Hill’s Department of Public Policy and as Duncan MacRae Professor of Public Policy and Business. His interest in asset-building strategies for the poor and attracting private capital to America’s emerging markets was stimulated by serving in the Clinton Administration as assistant secretary for policy development and research at the U.S. Department of Housing and Urban Development.
The Center for Community Capital’s current director, Roberto G. Quercia, praised the appointment.
“Recovery in the housing sector is critical to ending the recession,” Quercia said. “Michael Stegman understands the need for a responsible, evidence-based approach to policy formulation and the positive effect that low-income households can have on the housing market as a whole.”
The UNC Center for Community Capital is the leading center for research and policy analysis on the transformative power of capital on households and communities in the United States. Part of the College of Arts and Sciences at the University of North Carolina at Chapel Hill, the center offers data and analysis that help policymakers, advocates and the private sector find sustainable ways to expand economic opportunity to more people more effectively. For more information, visit www.ccc.unc.edu or call (919) 843-2140.
Topics(s): Affordable Homeownership, Mortgage Finance