BOSTON -- The White House, long bedeviled by shortcomings in its housing programs, received two boosts Wednesday when its pick to lead a key housing agency received support from some Republican lawmakers and its approach to aiding the housing recovery was validated by an independent government agency.
Mel Watt, President Barack Obama’s choice to oversee the the Federal Housing Finance Agency, was endorsed by Sen. Richard Burr (R-N.C.) and praised by Rep. Spencer Bachus (R-Ala.), a former House Financial Services Committee chairman, shortly after Obama announced that he wanted the 11-term Democratic Congressman from North Carolina to lead the agency, which oversees government-controlled mortgage financiers Fannie Mae and Freddie Mac.
“Congressman Watt has played an integral role in the financial services committee's deliberations on housing policy and is known as a serious and substantive legislator,” Bachus said. “In my experience working with him on a variety of issues, I have always personally respected Congressman Watt for his intellect, attention to detail, and dedication to serving the public."
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