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Watt maybe in line to head Fannie Mae and Freddie Mac

Rep. Mel Watt of Charlotte is being considered to head the mortgage-finance firms Fannie Mae and Freddie Mac, The Wall Street Journal is reporting, quoting unnamed sources.

The paper says the White House has not made a final decision, but could name a new director of the Federal Housing Finance Agency, which oversees the companies in April.

Watt, a Yale-educated attorney, is a member of the House Financial Services Committee. He has represented the Charlotte area for 20 years and before that served in the state Senate.

He has been advocate for better access to mortgage loans for minority and low-income consumers.

President Obama has been under some pressure to name more African-Americans to his administration. The Congressional Black Caucus this month sent a letter to the White House noting that the Obama administration has yet to name an African-American to a top post for his second term, the paper reported.


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