Fannie Mae Reform To Cause Housing Crisis 2.0: Bove

It wasn’t long ago that Rafferty Capital Markets LLC VP of equity research Richard X. Bove declared victory on Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) reform, sensing a sea change in Federal Housing Finance Agency (FHFA) chief Mel Watts comments at the Brookings Institution. Now he has swung to the opposite extreme and is warning that unless the government changes course we could be looking at the making of another housing crisis.

“In 2017, a new President will take office....