Congressman Watt Chosen For Federal Housing Post
President Barack Obama has tapped a North Carolina elected official for a federal post for the second time this week. On Wednesday, he nominated Charlotte congressman Mel Watt to head the Federal Housing Finance Agency.
If confirmed, Watt would lead the office that oversees government-sponsored mortgage lenders Fannie Mae and Freddie Mac. The president says Watt's 20 years representing North Carolina's 12th District is full of housing-policy experience as a member of House Financial Services Committee.
"He's helped protect consumers from the kind of reckless risk taking that led to the financial crisis in the first place and he's fought to give more Americans in low-income neighborhoods access to affordable housing," the president says.
"Mel understands as well as anybody what caused the housing crisis. He knows what it's going to take to help responsible homeowners fully recover."
Watt's nomination must be confirmed by the U.S. Senate. President Obama nominated Charlotte mayor Anthony Foxx as his next transportation secretary on Monday.