STATEMENT: Julia Gordon on the Senate Blocking the Nomination of Rep. Mel Watt to the Federal Housing Finance Agency
Washington, D.C. — Today, the U.S. Senate blocked a vote on the president’s nomination of Rep. Mel Watt (D-NC) as the director of the Federal Housing Finance Agency. Julia Gordon, Director of Housing Finance and Policy for the Center for American Progress, released the following statement:
We are deeply disappointed that the Senate will not permit a vote on Rep. Watt’s nomination to head the Federal Housing Finance Agency. It is a travesty that Senators are treating a highly qualified nominee—who is also a congressional colleague—with so little respect solely because of perceived ideological differences.
The need for an appointed director at the Federal Housing Finance Agency is urgent. Acting Director Edward DeMarco is marching down a path toward ever-decreased access to sustainable mortgage credit and affordable rental housing for America’s families, with little regard for the consequences of this reduction. His policy choices have not only resulted in unnecessary foreclosures that have harmed individuals, neighborhoods, and the housing market, but they are also negatively affecting future homeownership prospects for millions of families and undermining both the housing-market recovery and the larger economic recovery.
We urge the Senate to reconsider this decision and provide the president’s nominee with the opportunity for an up-or-down vote.
Related resources from ThinkProgress:
- Four Reasons Why It Matters Who Runs the Federal Housing Finance Agency
- As Obama Nominates Key Regulator, Misinformation About Cause Of Housing Crisis Spreads
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