Melvin Luther (Mel) Watt (born August 26, 1945), American politician, has been a Democratic member of the United States House of Representatives since 1993, representing the North ...
Federal Housing Finance Agency director Melvin Watt in a February speech warned that the companies falling capital buffers could one day cause investors to doubt their guarantees of mortgage-backed securities. Such uncertainty would cause mortgage rates to go up.
Fannie and Freddie, said it is considering raising thesalaries of the companies' chief executive officers, despite objections from the Treasury Department. Melvin Watt,director of the FHFA, cited CEO retention, succession plans and operational continuity in his decision to consider thepay raises.
Date: May 07, 2015
Category: Business
Source: Google
Fannie and Freddie Want To Offer Three Percent Down Loans Again
In light of the last crisis, Federal Housing Finance Authority director Melvin Watt says that his groupwhich oversees the two government lendershas been working with them to develop some kind of sensible and responsible guidelines to help get the three percent loans approved as an attempt to in
Melvin Watt, director of the Federal Housing Finance Authority, which regulates the two government enterprises, said his group was working with them to develop sensible and responsible guidelines for the 3% loans, in an effort to increase access for creditworthy but lower-wealth borrowers. He ci
Addressing a lending conference here Monday, Melvin Watt, director of the Federal Housing Finance Agency, outlined ways in which his agency would clarify actions it takes against bankers on loans that go bad after being sold to Freddie and Fannie.
Date: Oct 20, 2014
Category: Business
Source: Google
Massachusetts AG Sues GSEs for Foreclosure Prevention Violations
AG Coakley sent another letter last month to FHFAs new Director, Melvin Watt, stating that the current policies are in direct conflict with Massachusetts law and represent an economic loss for taxpayer-owned Fannie and Freddie.
This is what helped trigger the 2008 financial collapse. But last week, Melvin Watt, the new head of the FederalHousing Finance Agency, which oversees Fannie and Freddie, said he wouldn't reduce limits on the size of mortgages thatthese government-owned mortgage giants guarantee. He also said he w
invokedthe so-called nuclear option to prevent the minority party from using afilibuster to block judicial and executive branch nominees after Republicansrepeatedly blocked votes on Melvin Watt, a Democratic congressman, to head the Federal Housing Finance Agency, and fourn