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Former Congressman Mel Watt is the new head of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, which underwrite mortgages for houses and apartment buildings.

Bankers and their flunkies in Congress are still trying to blame affordable housing for Wall Street's self-induced collapse of six years ago. We need to let Mel Watt know how many of us support expanding affordable housing.

Click here to send him an email.

We've drafted a message that urges Watt to

* Ask Congress to allow Fannie and Freddie to reduce loan balances for underwater homeowners (who owe more than their homes are worth) -- a step that would benefit Fannie and Freddie as well as home owners.

* Stop reducing and begin increasing the number of multifamily apartment buildings financed by Fannie and Freddie.

* Develop rules, mandated over five years ago, to ensure that Fannie and Freddie fairly serve all credit-worthy borrowers.

* Make sure Fannie and Freddie provide funding, as required by law, for the National Housing Trust Fund and the Capital Management Fund.

This could be the moment in which we begin solving the housing crisis in the U.S.

Please click here to add your name.

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-- The RootsAction.org Team

P.S. RootsAction is an independent online force endorsed by Jim Hightower, Barbara Ehrenreich, Cornel West, Daniel Ellsberg, Glenn Greenwald, Naomi Klein, Bill Fletcher Jr., Laura Flanders, former U.S. Senator James Abourezk, Coleen Rowley, Frances Fox Piven, and many others.

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Bloomberg Business Week: New Boss Could Reshape Mortgage Finance
Andrew Jakabovics and John Griffith: Mel Watt's First Day
Politico: Mel Watt Faces Tough Affordable Housing Question



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