Today in Arizona, President Obama again pushed, though gently, the Senate to nominate Rep. Mel Watt (D-NC) to be the next Director of the Federal Housing Finance Agency.
Sen. Harry Reid (D-NV), for reasons unknown, did not include Watt’s nomination in the filibuster truce/deal that moved the nominations of Richard Cordray (Director of the Consumer Financial Protection Bureau) and Tom Perez (for Secretary of Labor). Will Reid re-open the nuclear discussion to move Watt’s nomination? Will the White House pressure him to do it?
The President nominated Watt on May 1. Today, the President mentioned Watt’ nomination in Arizona on housing.
An excerpt from the President’s speech today: “First, private capital should take a bigger role in the mortgage market. Second, no more leaving taxpayers on the hook for irresponsibility or bad decisions. Third, we should preserve access to safe and simple mortgage products like the 30-year, fixed-rate mortgage.
Fourth, we have to keep housing affordable for first-time homebuyers and families working to climb into the middle class. We need to strengthen the FHA so it gives today’s families the same kind of chance it gave my grandparents, and preserves that rung on the ladder of opportunity. And we need to support affordable rental housing and keep up our fight against homelessness.
The Consumer Financial Protection Bureau we created is laying down new rules of the road that every family can count on when they’re shopping for a mortgage. They’re designing a new, simple mortgage form in plain English, with no fine print, so you know before you owe.
Months ago, I nominated a man named Mel Watt to be our nation’s top housing regulator. Congress should give his nomination an up-or-down vote without any more obstruction or delay.”