Fannie Mae-No Politics (FNMA)

[Reh_billz]

can some one explain whats this passage below mean? and does it mean Fnma remain...

FHFA nominee Watt fails Senate test voteFont size: A | A | A1:01 PM ET 10/31/13 | Marketwatch
WASHINGTON (MarketWatch) -- President Barack Obama's choice to run the agency that regulates mortgage-finance giants Fannie Mae and Freddie Mac failed a test vote in the Senate on Thursday. Rep. Mel Watt, a North Carolina Democrat, garnered 56 yes votes, four short of the 60 needed to advance his nomination. Republicans have opposed Watt's nomination, saying a candidate with more experience in housing-finance markets should lead the regulator. Just two Republican senators -- Richard Burr of North Carolina and Rob Portman of Ohio -- voted to advance the nomination.It's unclear how Democrats plan to proceed with the nomination now that it has been blocked.