Will Mel Watt Give Away Fannie Mae, Freddie Mac Profits

A major policy shift is underway at Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) with a change in regulatory focus. Regulators to focus on consumers The regulatory focus shift, first noticed in a Wall Street Journal article, is nuanced but significant, as the agency is more focused on the consumer as opposed to institutional financial concerns. The article notes the shift in priorities under former North Carolina Congressman Mel Watt.  The colorful Watt was accused by then Green Party presidential candidate Ralph Nader of firing a “racial epithet” at…