Michael Stegman is a senior housing policy fellow at the Milken Institute Center for Financial Markets, a Senior Fellow in the Center for Household Financial Stability at the St. Louis Federal Reserve Bank, and a Senior Fellow at the Center for Community Capital at the University of North Carolina at Chapel Hill. Previously, he was senior policy advisor for housing at the National Economic Council from 2015 to 2016 after serving three years as counselor to the Secretary of the Treasury for housing finance policy. As the top housing policy advisor in the White House, he coordinated administration policies on housing finance reform, access to credit, and other housing issues. He also convened the “Private Label Securitization Initiative” while at Treasury, bringing together key issuers and investors to explore hurdles to the return of a viable private label securitization market. Previously, he served as assistant secretary for policy development and research at the Department of Housing and Urban Development from 1993 to 1997. He also holds the position of MacRae Professor Emeritus at the University of North Carolina at Chapel Hill.