As expected, the president’s nomination of Rep. Mel Watt, D-NC, to head the Federal Housing Finance Agency was approved late this week by the Senate Banking, Housing and Urban Affairs Committee. Also as expected, the committee voted 12-10 strictly along party lines to advance Watt’s nomination to the full Senate, where it awaits a vote on confirmation. “As Congress continues to seek consensus on a long-term solution for our housing finance system, we need a Senate-confirmed director in place at the Federal Housing Finance Agency,” said Committee Chairman Sen. Tim Johnson, D-SD. “Congressman Mel Watt is well qualified to lead the FHFA in its conservatorship of Fannie Mae and Freddie Mac, and he too should be confirmed without delay.”