Watt faces tough affordable housing question


 June 16, 2014, By Jon Prior

Fannie Mae and Freddie Mac regulator Mel Watt will soon have to dive into the politically thorny debate over affordable housing, an issue that served as one of the key breaking points in recent Senate talks over what to do with the two mortgage finance giants.

The affordable housing goals for government controlled Fannie and Freddie, last set by the Federal Housing Finance Agency in 2012, will expire at the end of the year, and homeowner advocates expect a proposal from Watt, who heads the agency, to come in July at the latest in order to allow time for public comment before it goes into effect next year.

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