Congresswoman Maxine Waters¸ Ranking Member of the House Financial Services Committee, offered the following statement in reaction to the failure of the U.S. Senate to invoke cloture on Melvin L. Watt as Director of the Federal Housing Finance Agency.

“I am extremely disappointed that the U.S. Senate has blocked the nomination of Mel Watt to head the Federal Housing Finance Agency. Mel has over four decades of experience on issues related to housing and housing finance. He is highly respected on both sides of the aisle and well-regarded as a legislator focused on openness, collaboration and good public policy. And he knows how to get things done. In short, we need a leader like Mel – thoughtful, well-informed, principled and fair – to ensure the FHFA remains focused on the long-term stability of the economy and the housing finance system.

It is virtually unprecedented for a sitting Member of Congress to be rejected by the U.S. Senate. Blocking the nomination of someone as qualified as Mel Watt has deprived the FHFA of a strong leader who is much needed to confront the challenges that lie ahead. I do not believe we could find anyone better than Mel Watt to do this job.”

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