Fannie, Freddie: Investors Misinterpret Watt, Says Bove

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Fannie Mae Common Securitization Platform Fannie Mae Mortgage Insurance

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, refuses…

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