Rep. Jeb Hensarling, R-TX, wrote Federal Housing Finance Agency Director Mel Watt demanding he explain why Fannie Mae and Freddie Mac will continue to make contributions to affordable housing funds while needing a draw from the Treasury to stay afloat. He called Watt’s refusal to automatically stop GSE payments to the funds “unjustifiable.” In the letter, the House Financial Services Committee chairman reminded Watt of his earlier statement saying he won’t make payments to the Housing Trust Fund and Capital Magnet Fund if a draw from Treasury is needed. In the wake of the Tax Cuts and Jobs Act of 2017, the GSEs had to reduce their deferred tax assets by...