WASHINGTON (11/17/14)--Federal Housing Finance Agency (FHFA) Director Mel Watt will testify before the Senate Banking Committee Wednesday. Watt will be the sole witness at the hearing, titled "The Federal Housing Finance Agency: Balancing Stability, Growth and Affordability in the Mortgage Market."
The hearing will be Watt's first before the committee since being named FHFA director in January.
A report from HousingWire cites a source that believes "lawmakers on both sides of the aisle will use this hearing to share a number of policy concerns from both ends of the political spectrum with Director Watt."
Per the report, Republicans are likely to share concerns with agency efforts to increase mortgage availability, while Democrats are expected to chide Watt for not acting aggressively enough to expand the FHFA's credit box.
The hearing is scheduled to run from 10 a.m. to noon (ET) and will be streamed live on the committee's website. It will also include nominations for two positions.