It is no longer a question of “if” the Federal Housing Finance Agency will have a new head but rather “how soon.” When that occurs, the question will shift to “what’s next,” say industry observers. Following its return from Thanksgiving recess, the U.S. Senate could move as early as next Tuesday to vote to confirm Rep. Mel Watt, D-NC, President Obama’s pick to run the FHFA. The nominations of Watt and Janet Yellen to head the FHFA and the Federal Reserve, respectively, are tethered on the Senate’s agenda by design.