Please take a minute today to remind Senators Booker and Menendez that Mr. Watt’s confirmation is critical to housing advocates! Urge them to confirm Mr. Watt as Director of the Federal Housing Finance Agency. Click here for the email addresses for their housing staffers.
This is an important moment for the National Housing Trust Fund (NHTF), as FHFA will play a key role in directing revenue to it. The FHFA oversees the government sponsored enterprises Fannie Mae and Freddie Mac, whose statutory obligations to contribute to the NHTF were suspended in 2008.
Now that both Fannie Mae and Freddie Mac are reporting booming profits, contributions to the NHTF should begin immediately. Mr. Watt would have the authority to lift the suspensions if confirmed as director.
Mr. Watt has been a stalwart supporter of the NHTF and low-income people; his confirmation enjoys broad support from civil rights groups, housing advocates, and leaders in the banking and mortgage industries. FHFA needs his leadership today!
Mr. Watt was nominated by President Obama in March 2013, but efforts to secure his confirmation have fallen short, most recently on October 31 when the Senate failed to get 60 votes to move the nomination forward. Today, the rules are different. Certain Presidential nominations, including Mr. Watt’s, can now be confirmed by a simple majority of 51 Senators.