U.S. Senate Republicans Block Nomination of Watt to Head FHFA

Oct. 31 (Bloomberg) -- The U.S. Senate voted not to consider the nomination of Representative Mel Watt, a North Carolina Democrat, to lead the Federal Housing Finance Agency following resistance from Republicans over his qualifications.

That opposition led to a 56-42 vote against a proposal to move the nomination to a final debate and floor vote on President Barack Obama’s choice to replace Edward J. DeMarco, who has been acting director since 2009 of the agency that oversees Fannie Mae and Freddie Mac.

To contact the reporter on this story: Cheyenne Hopkins in Washington at chopkins19@bloomberg.net

To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net