Waters' Statement on Confirmation of Mel Watt as FHFA Director
Following the confirmation of Congressman Mel Watt (D-NC) as Director of the Federal Housing Finance Agency, Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, offered the following statement in strong support.
"I am elated that after months of uncertainty and obstruction, the U.S. Senate has finally confirmed Congressman Mel Watt to head the Federal Housing Finance Agency. Mel has over 40 years of experience on issues related to housing – 20 as my friend and colleague on the Financial Services Committee and 22 as an attorney dealing largely in real estate. He is highly respected on both sides of the aisle, and well-regarded as a legislator focused on openness, collaboration and good public policy. Moreover, he knows how to get things done.
Mel Watt's legislative work demonstrates an unwavering commitment to protecting consumers, expanding affordable rental housing, and providing prudent oversight of financial institutions. He will bring this expertise to his new role as overseer of the nation's secondary mortgage markets. The FHFA plays a critical role in our economic and housing recovery and the position of Director requires a leader who deeply understands the complex issues surrounding housing and housing finance. I believe Mel Watt has the vision, experience and temperament necessary to ensure the FHFA remains focused on the long-term stability of the economy and the housing finance system. This is particularly needed as Congress begins to consider reforming the $10 trillion secondary mortgage market.
I believe that while the worst of the crisis is over, we still have many issues to overcome. I am heartened to know that Mel Watt will be at the helm to address those challenges."
Yesterday, Waters led all 27 of Watt's Democratic colleagues on House Committee on Financial Services in a letter to Senate leaders Harry Reid (D-NV) and Mitch McConnell (R-KY) touting his experience and calling for his confirmation.