The Minister of Social Affairs, mr. Magnús Stefánsson, has in accordance with artical 7 of the act on Housing Affairs no. 44/1998 appointed a new Board of Directors for the Housing Financing Fund for the next four years. As of January 1st 2007 the Board of Directors consists of; Hákon Hákonarson, mechanic, head of the board, Gunnar S. Björnsson, master craftsman in construction, vice-chairman of the board, Elín R. Líndal, managing director, Jóhann Ársælsson, member of Althingi and Kristján Pálsson, former member of Althingi. Substitude members of the board are; Dagný Jónsdóttir, member of Althingi, Ingunn Guðmundsdóttir, former head of local government, Magnús B. Jónsson, head of local government, Kristján Gunnarsson, Head of the Board of Directors for the Trade Union of Workers and Seamen of Keflavík and Kristján Guðmundsson, carpender.