Senate Sets June 27 Confirmation Hearing for FHFA Nominee Watt
The Senate Banking Committee will hold a confirmation hearing on June 27 for North Carolina congressman Mel Watt to lead the Federal Housing Finance Agency.
It’s unclear how soon Watt’s nomination might get a vote on the Senate floor. Watt’s record for assistance to struggling homeowners has put him at odds with Senate Republicans whose votes he’ll need to win confirmation.
If confirmed, Watt would replace Edward J. DeMarco, the current head of the Fannie Mae regulator who has clashed with Democrats over whether the agency should permit principal reductions for struggling borrowers.
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