Fannie, Freddie: Investors Misinterpret Watt, Says Bove

After Federal Housing Finance Agency (FHFA) director Mel Watt spoke at the Brookings Institute last week, outlining his plans for Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) for the first time, it sounded like a major change in direction for the GSEs. In a follow up interview on C-SPAN, Watt went to great lengths to emphasize the limits of his mandate, but Rafferty Capital Markets VP of equity research Richard X. Bove still sees Watt’s comments as a good sign for shareholders.

Watt sticks to mandate,...

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