Fannie Mae-No Politics (FNMA)

[bradford86]

did you see the kbw research report that came out yesterday?

Fifteen years after originally being placed in conservatorship for a “timeout” by the Federal Housing Finance
Agency (FHFA), the status of the Government-Sponsored Enterprises (GSEs) remains unchanged. However,
going into a presidential election year in 2024, we think there could be renewed investor interest in GSE
shares as a change in the White House could result in GSE reform being moved to the front burner. So,
while we maintain our Underperform ratings and our $1 price targets, we think a close Presidential election
is likely to result in a rally in GSE common and preferred shares.