FOR IMMEDIATE RELEASE
Contact:
Joseph Rendeiro
(202) 776-1566
jrendeiro@nclr.org
Today, President Obama nominated Rep. Melvin Watt (D–N.C.) to head the Federal Housing Finance Agency (FHFA), the government regulator that oversees lending giants Fannie Mae and Freddie Mac, which together guarantee almost half of all U.S. mortgages. NCLR (National Council of La Raza) fully supports the nomination of Rep. Watt, who has served in Congress for more than 20 years. Many of those years were spent on the House Financial Services Committee where he was one of the first members to call attention to the subprime mortgage crisis.
“We commend President Obama for this strong choice for Director of the FHFA,” said Janet Murguía, President and CEO of NCLR. “Throughout his distinguished tenure in Congress, Rep. Watt has established himself as a strong advocate for vulnerable consumers and families experiencing needless foreclosures. This is a critical position that will help chart the course of the nation’s housing market at a time when credit is tight and foreclosures persist, especially for Latino families. We urge Congress to swiftly confirm Rep. Watt, who has the experience and acumen to help accelerate the housing recovery.”
###