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Watt Updates Congress on FHFA Operations

Tuesday, January 27, 2015

Melvin L. Watt, appeared before the House Financial Services Committee on Tuesday, his first such appearance since he became director of the Federal Housing Finance Agency (FHFA) a year ago.  Watt, in his prepared remarks, recounted to committee members some of the efforts of FHFA over the past year and its plans for the next few.  FHFA is regulator of the Federal Home Loan Banks and both regulator and conservator of the two government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. 

The majority of Watt's testimony concerned the GSEs   He said his agency had acted consistently over the past year to ensure their safety and soundness and to make sure they both provide liquidity to the housing markets and meet their obligations to homeowners as specified by the Emergency Economic Stabilization Act of 2008 (EESA).


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