Mel Watt Officially Nominated to Head FHFA

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Posted To: MND NewsWire

Confirming earlier speculation, President Barack Obama this afternoon nominated Congressman Mel Watt (D-NC) to be the director of the Federal Housing Finance Agency (FHFA) . Watt, who has served in the House of Representatives for 20 years, will succeed Edward J. DeMarco who has acted as director through most of the Obama presidency. In announcing the nomination the President said the Congressman "has led efforts to rein in unscrupulous mortgage lenders, he's helped protect consumers from the kind of reckless risk-taking that led to the financial crisis in the first place, and he's fought to give more Americans in low-income neighborhoods access to affordable housing." Shaun Donovan , Secretary of Housing and Urban Development said he applauded the President's nomination. "Mel brings to this...(read more)

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Source: http://www.mortgagenewsdaily.com/05012013_fhfa_watt.asp

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