Industry observers expect the new regulator of Fannie Mae and Freddie Mac will ease up on plans to shrink the GSEs’ footprint but so far the recently installed Federal Housing Finance Agency head isn’t saying much. Since Mel Watt was sworn into a five-year term as FHFA director on Jan. 6, the former North Carolina Democrat congressman has made no official public appearances or policy statements, except for canned comments attributed to him in routine Finance Agency announcements.