WASHINGTON, D.C. – May 2, 2013 – (RealEstateRama) — Today, President Obama nominated Congressman Melvin L. “Mel” Watt (D-N.C.) to serve as Director of the Federal Housing Finance Agency, the independent federal regulator that oversees Fannie Mae and Freddie Mac, the government-backed mortgage financiers. Rep. Watt has represented the 12th congressional district of North Carolina since 1993, and he currently serves as the Ranking Member of the Courts, Intellectual Property and the Internet Subcommittee of the House Judiciary Committee. In addition, Rep. Watt is a senior member of the House Financial Services Committee, and served as the Chairman of the Congressional Black Caucus from 2005 to 2006. Following the announcement of his nomination, Congressman John Conyers, Jr. (D-Mich.) issued this statement:
“I have had the distinct privilege of serving with my good friend and colleague Congressman Mel Watt for 20 years, and I applaud his nomination by President Obama to serve as the next Director of the Federal Housing Finance Agency (FHFA),” said Conyers.
“Throughout his time with the Judiciary and Financial Services Committees, Rep. Watt has worked tirelessly to advance consumer protections and to promote affordable housing. He was also instrumental in shaping the Dodd-Frank Wall Street Reform and Consumer Protection Act and in combating deceptive predatory lending practices within the real estate market.
“As families across the country continue to recover from the nationwide home mortgage foreclosure crisis, and the resulting economic recession, Rep. Watt will play a major role in addressing the causes of these fiscal disasters. New leadership at the FHFA has been long overdue, and Rep. Watt’s commitment to serving the public, alongside his open-minded approach to problem solving, will be a welcome change of pace. For these reasons, amongst Rep. Watt’s many other qualifications, I hope that he is swiftly confirmed by the Senate.”