Obama Naming NC's Watt for Housing Post

Wednesday, 01 May 2013 06:28 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

A White House official says President Barack Obama intends to nominate Democratic Rep. Melvin Watt of North Carolina to head the Federal Housing Finance Agency, the government regulator that oversees lending giants Fannie Mae and Freddie Mac.

If confirmed by the Senate, Watt would replace Edward DeMarco, an appointee of President George W. Bush who has been a target of housing advocates, liberal groups and Democratic lawmakers.

The president was expected to announce the nomination Wednesday.

Watt's nomination comes at a crucial time for Fannie Mae and Freddie Mac, two government sponsored mortgage-finance enterprises that the government rescued at the height of the financial crisis in September 2008 as they teetered neared collapse from losses on soured mortgage loans.

The White House official spoke only on condition of anonymity ahead of the announcement.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Report: GOP Eyes 'Budget Reconciliation' in Obamacare Battle

Monday, 22 Dec 2014 13:30 PM

Some Republicans on Capitol Hill are talking about using the "budget reconciliation" process in an effort to repeal Obam . . .

Most Believe Santa Claus Is a Republican

Monday, 22 Dec 2014 12:51 PM

He probably doesn't have time to vote, what with all that toy-making, reindeer-steering and chimney-dropping, but did yo . . .

Obama Set to Clash With Congress on Keystone, Cuba

Monday, 22 Dec 2014 12:37 PM

In his final press conference of the year, President Obama indicated that he plans to take on the new Republican-led Sen . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved