Mel Watt - Someone You Should Know

On May 1, 2013, President Barack Obama nominated Melvin Luther “Mel” Watt to be the next head of the Federal Housing Finance Agency (FHFA).  The position matters to homeowners and prospective homeowners, as the head of the FHFA oversees the operations of the Federal Housing Administration (FHA), and mortgage giants Fannie Mae and Freddie Mac.  The future of these Government Sponsored Entities is uncertain in spite of their current revenue and profitability.   Mr. Watt was finally confirmed on December 10, 2013, after much debate in congress, and immediately took action on one of his first objectives as the new FHFA director, and stopped a series of planned loan fee hikes that would have ultimately made the cost of borrowing more expensive for homeowners.  What a great start as the leader of the FHFA. Leaders should always make their first move bold and decisive.  It sets the tone and send a message about the type of leader you are going to be - a leader of action and results.  I can't wait  to see what's next and how he will deals with a Congress that cannot agree on anything.

Mr. Watt brings decades of experience in politics to his new appointment.  Prior to accepting the housing position, Mr. Watt had been serving as the United States Representative for North Carolina’s 12th district since 1993.  A member of the Democratic Party, he has also served as a one-term state Senator, and as a campaign manager for former Charlotte Mayor Harvey Grant.   He is no stranger to politics and how things get done in Washington. 

Before entering politics, Mel Watt attended the University of North Carolina at Chapel Hill, graduating Phi Beta Kappa in 1967 with a Bachelor’s of Science in Business Administration.  Three years later, he graduated from the prestigious Yale Law School, where he contributed regularly as a published member of the Yale Law Journal.

Read my latest article about Mel Watt’s in the May 2014 issue of The Power Is Now Online Magazine, along with further analysis of his housing initiatives.


Mel Watt. (2014). WIKIPEDIA website. Retrieved 10:30, Mar 18, 2014, from http://en.wikipedia.org/wiki/Mel_Watt.

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