President Obama is considering naming Rep. Mel Watt (D-N.C.) to lead the regulator of Fannie Mae and Freddie Mac. The White House has not made a final decision, but it could announce its pick for the director of the Federal Housing Finance Agency as soon as April. The official will likely play a key role in determining the future of the mortgage companies. Watt has held a Charlotte-area congressional seats for 20 years and is a longtime member of the House Financial Services Committee, which oversees housing matters. He has pressed for better access to mortgages for minority and low-income borrowers.
Web Link - May Require Paid Subscription