Political races bring on all sorts of silly comparisons so why not take a stab at asking this: who would produce a more profitable mortgage banking company: President Obama or Mitt Romney? As we all know, the president’s private sector experience is somewhere between slim and none and his job (so far) of balancing the nation’s books has been less-than-stellar. Of course, he inherited a financial mess and he’s dealing with a motley crew called Congress who can’t even agree on the time of day. Romney, on the other hand, has a proven track record in business and plenty of personal wealth to show for it. We might assume that given today’s tight underwriting standards that both men would stick to Fannie/Freddie/FHA/VA lending or would Obama (a liberal) me more inclined to loosen loan standards so people in the “gray area” economy with low FICO scores can buy a house? (But would he rake these borrowers over the coals checking and double-checking their financial bona fides?) One thing both candidates have in common is this: neither man is a big fan of Fannie Mae and Freddie Mac. But wait, both these government-owned GSEs are now in the black, earnings wise. Questions, questions, questions…
