CHARLOTTE, N.C. -- U.S. Rep. Mel Watt says his final day in Congress will be Jan. 6, the same day he is sworn in as the nation's top housing regulator.
The Democrat won't finish his 11th term because of his new job running the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, the groups that own or guarantee about half of all U.S. mortgages.
Republican fought Watts' nomination by President Barack Obama for months, saying he was unqualified. Democrats took advantage of eased rules on filibusters earlier this month and pushed the nomination through.
Watts' resignation will trigger a special election to finish the final year of his term. At least seven people have announced they want to run.