Mel Watt has a good seven months left on his term as director of the Federal Housing Finance Agency, but already the industry rumor mill is speculating on whom the White House might pick to replace him.So far, the names run the gamut – from “reasonable” picks such as Treasury counselor Craig Phillips or acting Ginnie Mae President Michael Bright, to some odd choices: former FHFA acting director Ed DeMarco or current House Financial Services Committee Chairman Jeb Hensarling, R-TX.Few in the industry buy the Hensarling choice except for the fact he’s an arch conservative, something President Trump likes in his appointees.