Fannie Mae and Freddie Mac control 5.107 trillion dollars in assets as of October 2013.
Mr. Watt's background includes a J.D. from Yale University School of Law, private law practice from 1970 to 1992, service as a US Congressman for 20 years -Committee on Financial Services, Subcommittee on Financial Institutions and Consumer Credit, Subcommittee on Insurance, Housing and Community Opportunity, Committee on the Judiciary, Subcommittee on Commercial and Administrative Law, Subcommittee on Intellectual Property, Competition, and the Internet (Ranking Member), Joint Economic Committee. Senior Member -House Financial Services Committee, Congressional Progressive Caucus, International Conservation Caucus prior chair of the Congressional Black Caucus.
Urban Financial Services Coalition congratulates Mr. Watt on his new appointment and looks forward to working with him.