NC Congressman Mel Watt Confirmed to Lead Federal Housing Regulation Agency.

North Carolina Congressman Mel Watt will lead the Federal Housing Finance Agency. The Senate voted 57-40 on Tuesday to end a Republican filibuster against Representative Watt.

The Federal Housing Finance Agency oversees Fannie Mae and Freddie Mac, which own or guarantee about half of all U.S. mortgages. President Obama nominated the Charlotte Democrat for the office in May. Republicans have said he's not qualified, but Democrats say that is untrue.

“Both coupled with his private sector experience and 20 years on the House Finance Services Committee, Mel Watt is going to be an advocate for our working families across the nation and making the dream of home ownership a reality for all of our families,” says Micah Beasley, the communications director for the North Carolina Democratic Party.

Congressman Watt is heading back to the United States Wednesday after attending the memorial service for Nelson Mandela in South Africa earlier this week.

Watt released a statement saying he's honored that the United States Senate has voted to confirm him as director of the Federal Housing Finance Agency.  Watt says he will ensure that the responsibilities of the agency are faithfully executed.