mel watt

Federal housing chief pitches mortgage relief program (Crain's Chicago Business)

Federal Housing Finance Agency Director Mel Watt appeared today at the Woodson Regional Library in Washington Heights to raise awareness of the Home Affordable Refinance Program, which has lowered borrowing costs for about 184,000 homeowners in the Chicago area since its 2009 inception. But nearly 36,000 Chicagoans eligible for HARP refinancing have yet to use the program, Mr. Watt said.

“This is just free money when you think about it,” he said.

Mel Watt confirmed as FHFA director

Congressman Melvin Watt was confirmed as director of the Federal Housing Finance Agency (FHFA) by the United States Senate in a 57-41 vote yesterday. The FHFA is a powerful federal government agency responsible for regulating government-sponsored enterprises Fannie Mae and Freddie Mac, which invest in more than three-fourths of the nation’s new mortgages.

Senator Dick Durbin voted in favor of Watt's nomination, while Senator Mark Kirk was unable to vote due to an emergency surgery.

Sen. Kirk votes to block new leadership of housing regulator

Sen. Mark Kirk (R-IL) voted today to filibuster a vote on President Obama’s nomination of Congressman Mel Watt as the director of the Federal Housing Finance Agency (FHFA). The motion to allow Congressman Watt’s confirmation vote failed on a vote of 56-42 (60 votes are necessary to proceed). The FHFA is a powerful agency that regulates Fannie Mae and Freddie Mac, which invests in more than three-fourths of the nation’s new mortgages. Sen. Richard Durbin (D-IL) voted against the filibuster.

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

Written by Dan Fair on October 29, 2013 - 10:22am

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.

Senator Kirk votes to block Mel Watt as director of Fannie, Freddie regulator

Senator Mark Kirk voted today against the nomination of Congressman Mel Watt of North Carolina as Director of the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac. Despite Senator Kirk’s opposition, the nomination passed out of the Senate Banking Committee on a 12-10 party line vote and will proceed to the full Senate for a vote.

From the President: Bank payday rules show what can be done with strong regulatory leaders—and we need them at CFPB and FHFA

Written by Dory Rand on May 16, 2013 - 2:16pm
Dory Rand


Last month fair lending advocates cheered when the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation proposed new guidance that would require banks under their supervision that offer bank payday or deposit advance products to comply with traditional safe and sound lending practices such as lending only after conducting proper underwriting and considering the borrower's ability to repay the loan.

Nomination of Mel Watt to FHFA is welcome news

A replacement for Ed DeMarco, the current acting director of the FHFA, is long overdue. DeMarco has obstructed necessary policy changes that would have lessened the negative impact of the foreclosure crisis on families and communities alike. Specifically, he has barred Fannie Mae and Freddie Mac from allowing lenders to reduce principal on underwater loans, even in situations where it would prevent foreclosure.

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