Fannie Mae-No Politics (FNMA)

[955]

This speaks volumes to me as he [DeMarco] demonstrates by action a tightening of lending practices to the point of opposing the Obama administration, members of Congress and consumer groups, something Mr. Watt would be less willing to do. Mr. Watt is more of a yes man than Demarco. DeMarco is our friend here and I believe gives us our best chances for exiting conservatorship.

"DeMarco, who has been interim chairman of FHFA since 2009, has been criticized by the Obama administration, members of Congress, and consumer groups for opposing mortgage principal write-downs to help homeowners at risk of default to stay in their houses."

http://www.publicintegrity.org/2013/05/01/12606/mel-watt-enjoys-close-ties-financial-industries