Fannie And Freddie: Mnuchin Reveals New Clues

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Fannie And Freddie: Mnuchin Reveals New Clues

Fannie And Freddie: Mnuchin Reveals New Clues

Seeking Alpha-

Summary

  • Treasury Secretary Steven Mnuchin made several comments about Fannie and Freddie on Thursday morning.
  • Though recap and release may not happen until late summer, early fall, we continue to believe it is the likely scenario.
  • Mnuchin’s comments about liquidity in the 30 year mortgage market and getting Fannie and Freddie out of government control were bullish for the long term.

By Parke Shall with Thom Lachenmann

We think that new revelations made by Steven Mnuchin and missed by most of the financial analysts reveal new clues to the future of Fannie (OTCQB:FNMA) and Freddie (OTCQB:FMCC). We think comments he made last week in interviews not only confirm that Fannie and Freddie won’t be under government control much longer, but also that it could still be a couple of months before action takes place. Until then, we expect to see an appeal of last week’s court decision; a decision that came with some scathing dissent despite not falling in favor of shareholders (for the most part).

[SEEKING ALPHA]

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