Political Quotes

“the Senate has considered several well- qualified nominees this week. One of those is Congressman Mel Watt, the President's nominee to be Director of the Federal Housing Finance Agency. Congressman Watt has the institutional knowledge, legislative experience, and vision to transform our housing market and ensure that the mortgage crisis doesn't happen again. Congressman Watt has vast experience working with the housing market. He practiced law for 22 years prior to his congressional career, executing countless real estate transactions. Since being elected to serve in North Carolina's 12th District in 1993, Congressman Watt has fought tirelessly to restore integrity to our financial system. He serves on the House Financial Services Committee, where he sponsored legislation that would eventually become part of the Dodd- Frank Wall Street Reform and Consumer Protection Act to ensure that mortgage applicants can, in fact, meet their mortgage obligations. What is more, he recognized that lenders were engaging in predatory practices when underwriting mortgage loans well before the foreclosure crisis. Since 2004, he has advocated for legislation to combat predatory mortgage practices. He has also been working for 10 years toward reform of Fannie Mae and Freddie Mac. I share his goal, and I want the right person at the helm when Congress begins that process.…”