The following is a statement from NAHB Chairman Rick Judson, a home builder and developer from Charlotte, N.C., on the nomination of Representative Mel Watt (D-N.C., 12th District) to be the head of the Federal Housing Finance Agency (FHFA):

"We applaud the nomination of Representative Watt to this important position. After four years in conservatorship, the future of Fannie Mae and Freddie Mac stand at a crossroad.

"Rep. Watt brings years of experience to this position at a pivotal moment as our nation's housing market recovers. NAHB looks forward to working closely with Rep. Watt to help address the many complex challenges facing the U.S. housing finance system upon his confirmation by the U.S. Senate."