Dear President Obama:
We are thrilled by your decision to nominate a replacement for acting Federal Housing Finance Agency Director Ed DeMarco.
A new direction at FHFA, under a director who supports principal reduction, will save millions of families from the terror of losing their homes; stabilize communities across the country; make affordable mortgages available to millions of Americans; and set our economy on a path to progress for all.
We hope that you will stand up for the American people and push for a speedy confirmation of FHFA nominee Mel Watt in the Senate.
Everyday homeowners and communities suffer because of the FHFA’s refusal to support principal reduction. The American people cannot afford to wait for an FHFA director who stands up for homeowners, communities and the economy.