Whether or not President Obama’s pick to become the new permanent director of the Federal Housing Finance Agency overcomes the long odds and expected Republican opposition to win Senate confirmation, it’s a win-win for the White House, say industry observers. Last week, Rep. Mel Watt, D-NC, a 20-year House veteran, all of it spent serving on the Financial Services Committee, was selected by Obama to become the new FHFA director, replacing FHFA Acting Director Edward DeMarco, who has served as the agency’s acting head since September 2009. Although Watt had been on the short list of FHFA nominees, it was widely believed that Moody’s Analytics’ Chief Economist Mark Zandi would be the president’s pick, largely because Zandi was seen as “confirmable” by both Democrats and Republicans.