Pursuits
Fannie-Freddie Regulator Said to Plan to Stay On Under Trump
- Mel Watt said to tell FHFA employees of plan to remain in job
- Republican efforts to reshape housing policy could be affected
What's the Future for Fannie and Freddie?
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When Barack Obama leaves office on Jan. 20, Democratic appointees across the government are expected to follow him out the door, to be replaced by officials chosen by Donald Trump. Not Mel Watt -- he isn’t planning to go anywhere.
As head of the little-known but powerful Federal Housing Finance Agency, Watt oversees Fannie Mae and Freddie Mac, the companies that underpin nearly half of U.S. mortgages. Watt has told employees and others close to him that he plans to stay at his post after Trump becomes president to serve out a term that doesn’t end until January 2019, according to people familiar with the matter who asked not to be named because the discussions were private.