There is a Housing Finance Review Committee. The Housing Finance Review Committee consists of seven members appointed by the Governor on recommendation of the Secretary as follows: three employees of the Department, one of whom may be the Secretary; one employee of the Executive Branch of State government who is not employed by the Department; and three members of the public. The term of a public member is 4 years and begins on July 1. At the end of a term, a public member continues to serve until a successor is appointed and qualifies. A public member who is appointed after a term has begun serves only for the rest of the term and until a successor is appointed and qualifies. The Housing Finance Review Committee shall review and make recommendations to the Secretary about: specific loan requests or categories of loan requests; and the investment and project financing policies of the Administration. The Secretary may approve a specific loan request without a recommendation of the Housing Finance Review Committee if the request requires urgent action.