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June 26, 2013 1:33 PM

Uphill battle begins for Mel Watt’s nomination to head mortgage regulator

President Barack Obama’s pick to lead the federal agency that oversees mortgage finance faces an uphill battle Thursday at a Senate confirmation hearing. Many Republicans are happy with the current caretaker and worry that Rep. Mel Watt, D-N.C., will bring a social agenda to the post.

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