U.S. House Democrat nominated to lead FHFA

President Barack Obama tapped veteran U.S. House Democrat Mel Watt to be the permanent leader of the Federal Housing Finance Agency. The president’s announcement comes amid mounting tension over the FHFA’s stance on principle write-downs under acting Director Edward DeMarco. It also comes at a key moment for the FHFA, which is under pressure to hasten the wind down of government sponsored enterprises Fannie Mae and Freddie Mac.