Canada Mortgage and Housing Corporation (CMHC) was established as a Crown corporation in January, 1946, by an Act of Parliament. CMHC has authority to act for the Government of Canada in all matters prescribed under the Canada Mortgage and Housing Corporation Act and the National Housing Act (NHA). CMHC is also governed by the Financial Administration Act (FAA). CMHC reports to Parliament through a designated Minister. Its affairs are managed by a Board of Directors consisting of the Chairman of the Board, the President and eight other members, all appointed by the Governor-in-Council.