The U.S. Senate is expected to consider the confirmation of Representative Mel Watt (D-NC) as the new director of the Federal Housing Finance Agency (FHFA) on Thursday, October 31. Housing Action Illinois, the Woodstock Institute and many, many others around the country strongly support Mr. Watt’s confirmation. The FHFA is the regulator of the government sponsored housing enterprises Fannie Mae and Freddie Mac.
During his 20 years in Congress, Mr. Watt has been a leader on housing issues, working with stakeholders on both sides of the aisle. While serving on the House Financial Services Committee, Mr. Watt used his position to advocate for affordable housing, fair lending, and consumer protections. Before his tenure in Congress, Mr. Watt worked on real estate and housing issues as a Yale-educated economic development lawyer in North Carolina. Rep. Watt is also longtime supporter of the National Housing Trust Fund.
Mr. Watt’s nomination was voted out of the Senate Banking Committee on July 18 by a partisan vote of 12-10. In order for him to be considered by the full Senate, a vote in favor of cloture is needed to guard against a Senate filibuster. Like all such votes, 60 Senators need to vote for cloture and the vote is expected to be extremely close.
Unlike the current interim FHFA Director, Ed DeMarco, we believe Mr. Watt would implement policies to minimize the negative impacts of the foreclosure crisis on families and communities. Mr. Watt would also be in an excellent position to develop plans to end the extended conservatorship Fannie Mae and Freddie Mac and to redefine the federal government’s role in housing finance and policy. As members of Congress have started to introduce various proposals to define a new role for the federal government in housing finance, it’s quite clear the nature of these plans will have an extremely significant impact on housing affordability for owners and renters, as well as influencing the health and stability of the overall economy. We believe that Mr. Watt has the skills and values to help ensure that the plans developed are for the general good and not to just benefit a few.
Please help us appeal to Illinois Senator Mark Kirk regarding the confirmation vote. For Senator Kirk, who as a Banking Committee member voted against Mr. Watt’s nomination, our ask is for him to vote in support of cloture, so Mr. Watt’s nomination can come up for an up/down vote by the entire Senate.
Please take time to do these things:
1. Click here to respond to this action alert that will send an email to Senator Kirk today letting him you think Mr. Watt is a qualified nominee for FHFA director and that he should be confirmed.
2. Follow-up with a phone call with the same message. You can leave a message for Senator Kirk at 202-224-2854.
3. Please forward this action alert to your networks.
4. Post the importance of Mr. Watt’s confirmation on Facebook or Twitter using the hashtag #confirmwatt.
Mel Watt has broad support for his nomination from housing organizations, civil rights groups, and industry leaders, including the National Association of Realtors and the National Association of Home Builders. Yet, Senators who oppose a new direction for FHFA are opposing his confirmation. Mel Watt deserves a vote!
Thank you for your support on this crucial issue.