Tell Sen. Kirk to allow a vote for new leadership at FHFA

Written by Dan Fair on October 29, 2013 - 10:22am
Communities are struggling to emerge from the devastation of the foreclosure crisis. While our neighborhoods make efforts to recover, the Federal Housing Finance Agency (FHFA)—regulator of Fannie Mae and Freddie Mac—has refused to implement policies proven to protect vulnerable homeowners from foreclosure.

It’s time for a leader who will make priority one preventing further damage from the foreclosure crisis. Sign onto our letter telling Sen. Kirk that homeowners deserve a vote on new leadership at FHFA.

Congressman Mel Watt’s nomination to lead the FHFA will come to a vote this week on the floor of the U.S. Senate. Congressman Watt possesses vast experience in housing issues and has expressed support for policies that will support recovery in our neighborhoods.

The vote on Congressman Watt’s confirmation will happen on Wednesday or Thursday this week, so act now: contact Senator Kirk’s office and sign onto our letter of support.

As foreclosures continued to rise, current FHFA director Ed DeMarco refused to make principal reduction—a proven tool to reduce foreclosure risk—part of FHFA’s response to the crisis. Watt has supported principal reduction in the past, signing a letter to members of Congress encouraging use of the policy at FHFA.

DeMarco also showed a disturbing willingness to thwart local governments’ attempts to recover from the foreclosure crisis, suing the City of Chicago over its Vacant Buildings Ordinance, which required mortgage holders to maintain a property before taking ownership of them. Without the ordinance, Fannie- and Freddie-backed properties can continue to languish in disrepair with neither the owner nor mortgage holder maintaining the homes.

Struggling homeowners can’t afford a leader at FHFA who is willing to ignore or interfere with policies that aid recovery.

Tell Sen. Kirk to allow an up-or-down vote on Congressman Watt’s nomination:

  1. Sign onto our letter urging Sen. Kirk not to block the vote on Congressman Watt.
  2. Call Sen. Kirk’s office at 202-224-2854 and tell him to allow an up-or-down vote on Congressman Watt’s nomination.
  3. Let us know what you learned from your outreach. Contact Katie Buitrago at or 312-368-0310.

Your support makes a difference—make the call today!