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Former congressman Mel Watt sworn in as Fannie and Freddie regulator

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Mel Watt was sworn in as the director of the Federal Housing Finance Agency on Monday afternoon, capping a contentious, partisan nomination process and giving the office that runs Fannie Mae and Freddie Mac its first Democratic head. Transportation Secretary Anthony Foxx administered the oath of office. Watt, who had served as the representative from North Carolina's 12th District since 1993,...