January 7, 2014
Contact: NCL Communications, Ben Klein, (202) 835-3323, email@example.com
Washington, DC -- The National Consumers League applauds the swearing in of Congressman Mel Watt of North Carolina to head the Federal Housing Finance Agency. The FHFA oversees the work of Fannie Mae and Freddie Mac. Mr. Watt has had a long tenure on the House Financial Services Committee, which oversees housing matters.
“Congressman Watt is a great choice for chief of this agency. His distinguished service as a member of Congress since 1992, and work on the House Financial Services Committee, makes him uniquely qualified to run the FHFA. He understands what led to the housing crisis and is on the side of responsible homeowners to help them get through this very tough period. We think he will be on the forefront of expanding access to credit for worthy borrowers and offering concrete tools and real assistance to homeowners who are under water, owing more on their homes than the property is worth,” said Sally Greenberg, the group’s Executive Director.
As Chief of the FHFA, Mr. Watt will play a crucial role in shaping the future of Fannie and Freddie. Mr. Watt consistently pressed for better access to mortgages for minority and low-income borrowers since being elected to Congress. He also brings a close working relationship with the financial services and insurance industries that are core members of the business community in Charlotte, NC, the area Congressman Watt represented.
“We congratulate Director Watt on heading this very important federal agency, the FHFA, and look forward to working with him,” Greenberg added.
About the National Consumers League
The National Consumers League, founded in 1899, is America's pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit http://www.nclnet.org.