; establishment as independent entity. Sec. 502. Guarantee fees. Subtitle B—FHA Sec. 511. Definitions. Part 1—Organization Sec. 521. Establishment. Sec. 522. Purposes. Sec. 523. General powers. Sec. 524. Board of Directors. Sec. 525. Officers and personnel. Sec. 526. Financial, underwriting, and operations systems. Sec. 527. Procurement. Sec. 528. Applicability of laws. Sec. 529. Evaluation. Sec. 530. Funding. Part 2—Authority over Rural Housing Programs of Department of Agriculture Sec. 541. Authority over Rural Housing Service programs. Sec. 542. Termination of Secretary of Agriculture’s rural housing authority. Sec. 543. Continuation of Obligations. Sec. 544. Status of employees. Part 3—Transition Sec. 551. Transition period. Sec. 552. Authority during transition period. Sec. 553. Advisory Board. Sec. 554. Transfer of HUD authority. Sec. 555. Wind-up of HUD affairs. Sec. 556. Continuation and coordination of certain actions. Sec. 557. Transfer and rights of HUD employees. Sec. 558. Transfer of property and facilities. Sec. 559. Effective Date. Title VI—Miscellaneous Provisions Sec. 601. Preservation of attorney-client privilege for information provided to FHFA. Sec. 602. FHFA Liaison Membership in Federal Financial Institutions Examination Council. Sec. 603. Recognition of FHFA enforcement authority with regard to regulated entities. Sec. 604. Exception from Right to Financial Privacy Act for FHFA as conservator or receiver. Sec. 605. Technical amendment to Federal Housing Enterprises Financial Safety and Soundness Act of 1992. Sec. 606. Application of presumption to enterprise streamlined refinancings. Sec. 607. FHFA authority to regulate and examine contractual counterparties. Sec. 608. Election of directors of a merged Federal Home Loan Bank. Sec. 609. Home equity conversion mortgage program. Sec. 610. FHA-related conforming amendments. I Wind-down of Fannie Mae and Freddie Mac 101. Definitions For purposes of this title, the following definitions shall apply: (1) Charter The term charter means— (A) with