Watt nomination vote postponed until Thursday

Cordray has been leading the agency since January 2012 after he was recess-appointed. But he was facing an uphill battle to win over Republicans who were, and still are, pushing for structural changes to the CFPB before confirming him to the slot.

As for Watt, the long-time North Carolina lawmaker seemed lined up to, at least, gain approval from the Banking panel on Thursday but may still have a bumpy ride to confirmation.

North Carolina Sens. Richard Burr (R) and Democrat Kay Hagan (D) on Tuesday praised Watt for his years of service and expressed support for his nomination.

But committee ranking member Mike Crapo (R-Idaho) emphasized that the person chosen by the Senate to run the FHFA needs to not only have expertise to oversee mortgage giants Fannie Mae and Freddie Mac, which hold about $5 trillion in mortgage assets, but must be politically independent.

Watt was nominated by President Obama in May and the panel held his nomination hearing in June.

Acting director Edward DeMarco has held the top regulator spot at the FHFA since August 2009.