WASHINGTON - Twenty-eight members of the California Democratic delegation today sent a letter to President Obama requesting that he immediately make an appointment to make a permanent Director to the Federal Housing Financial Authority (FHFA). The position at the agency, which oversees Fannie Mae and Freddie Mac, has been blocked by Senate Republicans for two and a half years. In November, 2011, 224,394 U.S. properties had foreclosure filings, one for every 579 units nationwide and one for every 211 units in California.
"For too long Republicans in the Senate have been playing games with the American people by blocking the Federal Housing Financial Authority from having a proper leader," said Rep. Zoe Lofgren. "These are difficult times and we need to be doing everything we can to prevent foreclosures and keep families in their homes. I would urge President Obama to take immediate action and appoint a permanent director."