Fannie Mae – AG Nominee Signals A Change In Approach: Bove

When Mel Watt spoke at the Brookings Institution earlier this year, Rafferty Capital Markets VP of equity research Richard Bove saw the change in direction as a big win for Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) shareholders. And while Watt has been clear about where he considers his obligations to lie, there’s not question that he has taken the FHFA, Fannie Mae and Freddie Mac in a different direction than his predecessor Ed DeMarco, and Bove argues in a report sent out earlier today that the nomination of Loretta Lynch as Attorney General signals a similar sea change in policy.