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 n.Obama will announce Wheeler's and Watt's appointments from the White 
House Wednesday afternoon. The White House officials spoke on condition 
of anonymity because they weren't authorized to publicly discuss the appointments 
before the president's formal announcement.Watt's nomination comes at a 
crucial time for Fannie Mae and Freddie Mac, two federally sponsored mortgage-finance 
enterprises that the government rescued at the height of the financial crisis 
in September 2008 as they teetered near collapse from losses on mortgage 
loans gone bad.Taxpayers have spent about $170 billion to rescue the companies. 
So far, they have repaid a combined $55.2 billion.Fannie and Freddie together 
own or guarantee about half of all U.S. mortgages, or nearly 31 
million home loans. Those loans are worth more than $5 trillion. Along 
with other federal agencies, they back roughly 90 percent of new mortgages.The 
nomination comes as the housing industry is making a comeback. Home prices 
are up, foreclosures are down and housing construction is on the rise. 
Moreover, Fannie Mae had its biggest yearly profit last year, earning $17.2 
billion.Watt, a senior member of the House Financial Services Committee 
and former chairman of the Congressional Black Caucus, played an influential 
role in the passage of a financial regulatory overhaul in 2010. That 
legislation, however, did not address the fate of the major mortgage lenders, 
an issue likely to come up during Obam
 In this image taken Sunday, April 28, 2013 from video footage obtained 
by APTN, the fourth image taken from a series of 5, the 
horse carrying  a man believed to be Turkmen President Gurbanguli Berdymukhamedov 
falls after crossing the finish line at a horse race during celebrations 
of Turkmenistans renowned desert racehorses   in capital Ashgabat, Turkmenistan. 
Berdymukhamedov did not appear to have been seriously injured and appeared 
before the crowd about a half-hour after the fall.  (AP Photo/via 
APTN)The Associated PressIn this image taken Sunday, April 28, 2013 from 
video footage obtained by APTN, the fifth image taken from a series 
of 5, guards run to  a man believed to be Turkmen 
President Gurbanguli Berdymukhamedov lying on the ground after his horse 
fell throwing him at a horse race during celebrations of  Turkmenistans 
renowned desert racehorses  in capital Ashgabat, Turkmenistan. Berdymukhamedov 
did not appear to have been seriously injured and appeared before the 
crowd about a half-hour after the fall. (AP Photo/via APTN)The Associated 
PressIn this image taken Sunday, April 28, 2013 from video footage obtained 
by APTN, the second image taken from a series of 5,  
a man believed to be Turkmen President Gurbanguli Berdymukhamedov rides 
his horse to victory as his horse starts falling at a  
race during celebrations of Turkmenistans renowned desert racehorses  in 
capital Ashgabat, Turkmenistan. Berdymukhamedov did not appear to ha
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