Wilbur Ross quits Ocwen Financial

Wilbur Ross quits Ocwen Financial

Distressed asset investor bringing his magic to Bank of Cyprus

Dustin Johnson levels blockbuster claims at title attorneys

Is Nat Hardwick the fall guy?

CFPB proposes 7 big changes to foreclosure process for mortgage servicers

Adds guidance on extended borrower protections
W S
Investments / Lending / Servicing / The Ticker

Mel Watt fails to obtain Congressional vote before summer recess

Money_WhiteHouse
/ Print / Reprints /
| Share More
/ Text Size+

President Obama’s Federal Housing Finance Agency nominee Rep. Mel Watt, D-N.C., failed to obtain a vote on his nomination to lead the FHFA in time to beat Congress's summer recess. 

Lawmakers break on Aug. 2, Compass Point Research & Trading pointed out. The tight time frame makes a Mel Watt confirmation unlikely this summer. 

"We believe this is a significant event as it is reflective of both the continuity of the Republican opposition as well as the unwillingness of Democrats to force the issue on Rep. Watt's nomination at this point in time," the research group said. "While the debate will reemerge when Congress returns from its recess on September 9, we continue to doubt that Rep. Watt will become the next FHFA director."

Comments powered by Disqus