Mel Watt must have read my blog Wednesday! I now have a new favorite politician. Rep Mel Watt, the incoming director of the regulatory agency that oversees Fannie Mae and Freddie Mac, announced yesterday that he will delay the increase in fees by Fannie and Freddie. See article below:
This is great news. With the housing market turning the corner and primed for a big breakout this spring, a fee increase at this time would have been a big mistake. I applaud Rep. Watt and hope he not only delays the implementation but also stops it completely.