Meanwhile, the Mortgage Bankers Association, National Association of Realtors, National Association of Home Builders, American Bankers Association and National Housing Conference also sent a letter to the FHFA saying Congress needs to take up the issue of housing finance reform, according to housingwire.
While Watt did not respond directly to the letters, in a letter not made public, but which The Wall Street Journal‘s Nick Timiraos revealed to MHProNews, Watt wrote, “I continue to believe that conservatorship is not a desirable end state and that Congress needs to tackle the important work of housing finance reform. In the meantime, however, you can be assured that FHFA will continue to fulfill its responsibilities to manage the conservatorships of the Enterprises in a safe and sound manner and in accordance with our statutory responsibilities.” ##
(Photo credit: Associated Press/Jacquelyn Martin–Mel Watt, FHFA Director, at his swearing in)
