Housing industry officials expect President Barack Obama to nominate Representative Mel Watt, a Democrat from North Carolina, as director of the Federal Finance Housing Finance Agency as early as tomorrow, according to three people briefed on the matter.
The White House has been struggling to find a replacement for Edward J. DeMarco, who has served as acting director since 2009. FHFA is charged with oversight of Fannie Mae and Freddie Mac (FMCC), the two mortgage financing companies that were taken into U.S. conservatorship as a result of the housing crisis.
