More Fannie Mae Borrower Aid Expected After Watt Confirmation
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The Federal Housing Finance Agency could slow efforts to shrink Fannie Mae and Freddie Mac and boost aid to troubled borrowers if U.S. Representative Mel Watt is confirmed as the agency’s director early next month.
Watt, a North Carolina Democrat, has the unanimous support of Senate Democrats who voted this week to change the chamber’s rules to approve nominees with a simple majority. Watt could gain confirmation as soon as the week of Dec. 9, when the Senate returns from a recess.