Fannie, Freddie's Footprint Could Grow Under New FHFA Head

Law360, New York (December 11, 2013, 7:13 PM EST) -- The U.S. mortgage industry is in for a sea change as Rep. Mel Watt, D-N.C., takes the helm of the Federal Housing Finance Agency, experts say, predicting Watt will seek to expand Fannie Mae and Freddie Mac, veering sharply from his predecessor's plans but lining up more closely with President Barack Obama's.

The confirmation came Tuesday in a 57-41 vote after months of delay ended by Senate Democrats' implementation of the so-called “nuclear option” eliminating the filibuster of presidential nominees. Senate Republicans had expressed concern about...
To view the full article, register now.