Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement today on the U.S. Senate’s confirmation of Congressman Mel Watt as the Director of the Federal Housing Finance Agency (FHFA):
“For the last 20 years, Congressman Mel Watt has served as an exceptional champion of America’s economic security. In confirming him as the head of the Federal Housing Finance Agency, the Senate has taken a significant step forward in our work to safeguard the health, well-being, and prosperity of the American people.
“An economic development attorney and small business owner who was known as the conscience of the North Carolina Senate, Mel has been a leader in Congress’ efforts to crack down on anti-predatory lending practices. As a longtime member of the Financial Services Committee, he has worked to serve underserved Americans in need of a home loan, and to protect homeowners against unwarranted and unfair foreclosures. Hailing from a district with the most banking and financial institutions outside of Wall Street, he is uniquely suited to the task of striking a much-needed balance between credible financial industry concerns and the security of American consumers and homeowners.
“The FHFA is vital to the stability of our mortgage markets, the availability of affordable housing, and the confidence of America’s homeowners. Mel’s steady hand, considerable expertise, and invaluable judgment will prove essential in ensuring the FHFA serves the best interests of America’s families. His leadership has earned him the confidence of his colleagues in the House; at the FHFA, we know that he will be an extraordinary partner in our work to protect and promote the prosperity of our middle class.”