Fannie Mae Seeking More Business At Mortgage Banker Conference

Officially, the Federal Housing Finance Agency (FHFA) is still winding down Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC), one of the few things both parties agree on these days, but the real story is more complicated. FHFA chief Mel Watt is preparing for an uncertain future of government involvement in the housing market, and according to Rafferty Capital Markets VP of equity research Richard Bove the GSEs are actively looking for more business.

“This change in attitudes was very evident in a Mortgage Banker Conference in San Diego last week in which all three of the GSEs spoke. They asked for more business according to press...