President Barack Obama can expect a dustup over his nomination of Rep. Mell Watt, D-N.C., to head up Fannie Mae and Freddie Mac’s regulator, the Federal Housing Finance Agency (FHFA). Watt’s chances of Senate confirmation “face long odds as Republicans and the administration continue to sharply disagree over what to do with bailed out mortgage giants Fannie Mae and Freddie Mac,” Politico reports. Sen. Bob Corker, R-Tenn. — already on record as saying he doesn’t think a politician should lead FHFA — said today that “he could not be more disappointed in this nomination.” Corker said lawmakers shouldn’t be asked to confirm a new FHFA leader until the administration has put forward a plan for Fannie and Freddie’s future role in mortgage lending. The National Association of Realtors issued a statement supporting Watt’s nomination. Source: Politico.
Brand Story by Ryne Knudson