Rep. Mel Watt Nominated as New FHFA Director

President Obama has nominated Rep. Mel Watt (D-North Carolina) to take over as the Federal Housing Finance Agency’s director.  Rep. Watt will replace Edward DeMarco, who has served in this position since August 2009.  Described by supporters as an advocate for consumers’ rights and an active leader in representing the public’s interests during the financial crisis, Watt has characterized his career by fighting to protect access to housing in low-income neighborhoods.  Opponents, however, argue that Watt’s approach, in stark contrast to the vision of DeMarco, will only worsen a crisis by further allowing homeowners to side-step debt.  Read the full article on DSNews for more information: http://www.dsnews.com/articles/obamas-nomination-for-fhfa-met-with-applause-disapproval-2013-05-01

 

 

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