Home Builders, Realtors Applaud Melvin Watt's Senate Confirmation as Director of Federal Housing Finance Agency (FHFA)

Melvin Watt
Melvin Watt

Both major housing trade associations -- the National Association of Home Builders (NAHB) and the National Association of Realtors (NAR) -- on Wednesday, Dec. 11, 2013 applauded the Tuesday, Dec. 10, 2013 confirmation by the Senate  of  Rep. Melvin Watt,  D-NC, 68, as director of the Federal Housing Finance Agency (FHFA), which regulates FHA, Fannie Mae and Freddie Mac. The vote was  57-41. Watt was nominated by President Obama in May and replaces Edward DeMarco as FHFA head.

http://www.latimes.com/business/money/la-fi-mo-mel-watt-fhfa-fannie-mae-...

 Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Charlotte, N.C., issued the following statement on the confirmation of Rep. Mel Watt as the new director of the Federal Housing Finance Agency (FHFA):

 “The National Association of Home Builders applauds the Senate confirmation of Rep. Mel Watt as the new director of the Federal Housing Finance Agency. His nearly two decades of experience working on housing issues as a member of the House Financial Services Committee makes him the right man for the job during this critical period as Congress debates changes to overhaul the U.S. housing finance system. NAHB looks forward to working with Rep. Watt in his new role as FHFA director to help revamp Fannie Mae and Freddie Mac and to create a U.S. housing finance system that ensures liquidity and stability for homeownership and rental housing.”

NAR President Steve Brown said:   “NAR commends the U.S. Senate today for approving the nomination of Rep. Melvin Watt for the position of Federal Housing Finance Agency director.

“During his two-decade tenure in Congress, Watt served on the U.S. House Financial Services Committee and was an outspoken advocate for homeownership. His leadership on the Subcommittee on Housing and Community Opportunity and the Subcommittee on Capital Markets, Insurance and Government-Sponsored Enterprises helped promote and protect safe, affordable access to homeownership for creditworthy buyers. 

“NAR looks forward to continuing our work with Rep. Watt as he transitions into his new role as FHFA director.”

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