More on Housing
President Barack Obama nominated veteran Rep. Melvin Watt to head the Federal Housing Finance Agency, the government regulator that oversees lending giants Fannie Mae and Freddie Mac. He also has chosen a former telecommunications lobbyist to head the Federal Communications Commission, the White House said.
Watt, a North Carolina Democrat who has been in Congress for 20 years, would replace Edward DeMarco, an appointee of Republican President George W. Bush, who has been a target of housing advocates, liberal groups and Democratic lawmakers.
Congresswoman Maxine Waters released the following statement today in response to news that President Barack Obama will nominate Congressman Melvin L. Watt to be Director of the Federal Housing Finance Agency:
Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, joined by Representative Michael E. Capuano and 65 of their Democratic House colleagues, has released a letter to key Members of the House Committee on Appropriations urging adequate funding for critical community development and housing programs in the Fiscal Year 2014 Transportation, Housing and Urban Development (THUD) appropriations bill.
Congresswoman Maxine Waters, Ranking Member of the House Committee on Financial Services, introduced the Project Rebuild Act of 2013 on Thursday afternoon. This legislation would provide funding for the rehabilitation of foreclosed and abandoned properties, helping to prevent the deterioration of neighborhoods which leads to plummeting housing prices and lower quality of life for residents.
In recent years, the agency has stepped into the void, providing crucial liquidity as private firms have retreated from writing mortgage insurance policies, particularly for key groups such as first time homebuyers.
Responding to a prompt asking what she is most optimistic about heading into the New Year, the Congresswoman replied:
The top Democrat on the House Financial Services Committee called Tuesday for Congress to "immediately" hold a hearing to investigate a controversial $8.5 billion foreclosure abuse settlement reached this year.
Congresswoman Maxine Waters (D-CA) was unanimously elected Ranking Member of the House Financial Services Committee today by the House Democratic Caucus. Following the election, Congresswoman Waters released the following statement:
Congresswoman Maxine Waters (CA-35) released the following statement in response to the Federal Housing Administration's annual financial status report issued to Congress today:
But as the California congresswoman prepares to become the top Democrat on the House Financial Services panel, she is engaging in an aggressive outreach effort with some of the very institutions that she has heavily criticized for their role in the financial crisis and recent home foreclosure scandals.
From organizing industry roundtables to one-on-one meetings with Wells Fargo's CEO to holding fundraisers targeting banking donors, Waters is opening the door to big banks and Wall Street.