Los Angeles (May 1, 2013) – The following is a statement made today by the CALIFORNIA ASSOCIATION OF REALTORS® President Don Faught:
"The CALIFORNIA ASSOCIATION OF REALTORS® applauds the appointment of Representative Mel Watt as the new director of the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac. His appointment brings the much-needed certainty to the position that is necessary to ensure that the mortgage giants can continue providing liquidity to the housing finance industry."
Watt would succeed the agency’s current acting director, Edward J. DeMarco, whose ousting was called for by C.A.R. late last year.
Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 155,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.