Fannie and Freddie

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just fired CFO at Freddie

Is this true?

https://www.govexec.com/workforce/2025/03/housing-agencies-begin-closing-offices-escorting-employees-out/403903/

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just fired CFO at Freddie

Is this true?

That happened Thursday p.m.
https://www.washingtonpost.com/business/2025/03/20/freddie-ceo-fhfa-fired/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just fired CFO at Freddie

Is this true?

That happened Thursday p.m.
https://www.washingtonpost.com/business/2025/03/20/freddie-ceo-fhfa-fired/

another article says not just CEO, also COO, Head of HR etc

[Anonymous]

Rumor is that the gerbil will come to Fannie on Monday

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just fired CFO at Freddie

Is this true?

That happened Thursday p.m.
https://www.washingtonpost.com/business/2025/03/20/freddie-ceo-fhfa-fired/

another article says not just CEO, also COO, Head of HR etc

Yes, again that all happened yesterday

[Anonymous]

Fannie Mae is notorious for hiring new VPs as laterals who could not make it elsewhere. Typically 2nd or 3rd rate people without depth but who manage up well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fannie paid out some crazy bonuses this year to include decent raises.

How much? Freddie employee here

I know someone who got $70k bonus and a 5% raise. They have been with FNMA for 12 years as a Manager level position. This person has continually received $50k - $70k annual bonus.

I worked there and got 240K base and a 120K bonus with a 8 percent 401k match off the whole 360K

They canned me after I completed a huge multi year project where things were not in run state and need less work and replaced me a DEI figure head making 450K a year, she in turned hired someone to do my old job at 360k a year who in turn was too junior then both started hiring consultants/contractors to help with work who started billing my old dept 2 million a year.

Quite Frankly I worked really hard and long hours but at 360K I felt it was worth it. If I had to do it again. I would have worked less, spend a few million on consultants to do my job, taking credit for it then spent my 40 hours a week doing politics and backstabbing as that is how you survive.

My first year I got a 120K sign on, 240K salary and a 120K year end bonus. Year they canned me I got my full 120K bonus, by then 250K salary and 40K severance. Which I thought was a lot but then they replaced me with a 450K person who hired a 350K person to help them run area. The money spending was crazy.

They would just take it out of the Dividend they send Uncle Sam and it was like magic money.

What level? Has to be VP

I know Sr. Managers and Directors making about the same! It's insane and they only do it because they don't want those profits going to the government.

Seriously this is how much people make???? On the taxpayer dime?? I know it’s the same at the CFPB, where "feds" are WAY overpaid. DOGE could find a boatload of savings at these agencies.

Fannie and Freddie aren’t funded by taxpayers so this is not “on the taxpayers dime”

Neither is CFPB. This poster is an idiot.

[Anonymous]

Anonymous wrote:Fannie Mae is notorious for hiring new VPs as laterals who could not make it elsewhere. Typically 2nd or 3rd rate people without depth but who manage up well.

the entire job at Freddie Mac was to manage up. you didnt do any real work , just did reports for your boss.

[Anonymous]

For fun spent and hour on LinkedIn looking up my old co-workers from Fannie/Fredde/CSS from 2016-2020 when I worked there.

The vast majority of old coworkers still there no longer live in the DMV according to LinkedIn

Most are down South or cheaper places. Good luck getting them back to work. I am sure 7,500 employees for 6,000 seats will be plenty,

They will drop like flies the first few weeks. My old boss sold his house and is in his beach house in Jersey, My other co worker her husband got a job in NYC and she moved there. A bunch are in Florida, North Carolina and Souht Carolina

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Fannie paid out some crazy bonuses this year to include decent raises.

How much? Freddie employee here

I know someone who got $70k bonus and a 5% raise. They have been with FNMA for 12 years as a Manager level position. This person has continually received $50k - $70k annual bonus.

I worked there and got 240K base and a 120K bonus with a 8 percent 401k match off the whole 360K

They canned me after I completed a huge multi year project where things were not in run state and need less work and replaced me a DEI figure head making 450K a year, she in turned hired someone to do my old job at 360k a year who in turn was too junior then both started hiring consultants/contractors to help with work who started billing my old dept 2 million a year.

Quite Frankly I worked really hard and long hours but at 360K I felt it was worth it. If I had to do it again. I would have worked less, spend a few million on consultants to do my job, taking credit for it then spent my 40 hours a week doing politics and backstabbing as that is how you survive.

My first year I got a 120K sign on, 240K salary and a 120K year end bonus. Year they canned me I got my full 120K bonus, by then 250K salary and 40K severance. Which I thought was a lot but then they replaced me with a 450K person who hired a 350K person to help them run area. The money spending was crazy.

They would just take it out of the Dividend they send Uncle Sam and it was like magic money.

What level? Has to be VP

I know Sr. Managers and Directors making about the same! It's insane and they only do it because they don't want those profits going to the government.

Seriously this is how much people make???? On the taxpayer dime?? I know it’s the same at the CFPB, where "feds" are WAY overpaid. DOGE could find a boatload of savings at these agencies.

Fannie and Freddie aren’t funded by taxpayers so this is not “on the taxpayers dime”

Neither is CFPB. This poster is an idiot.

Completely different

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Agree with PP about the amount of backstabbing and money waste of Fannie. It worked out for me financially until it didn’t. They love to hire a shiny new narcissist who makes long-term employees lives Hell but you stay because of the ridiculous bonuses and incredible health benefits. I know people there who are very unhappy, but Due to concerns with healthcare/pre-existing conditions and fannies very generous healthcare plan, feel stuck.

And also the Severance and bonus you lose if you quit voluntarily. When I was there for 3 years only one person I worked with quit my level. 95 percent of people the ax swung so regularly it would hit you one day and you be perp walked out the door

Also the 8 percent 401K match is unheard of as they match it also on Bonus. Someone making 200K with a 100K bonus gets 24K match in 401K. And if you job hunted it was hard.

Lets say you make 200K and job hunt. Someone offers 10 perent raise that is only 220k. Maybe you can get if really lucky 20 percent raise to 240k. Then you get job offer to realize 401k match is only 4 percent, bonus is 1/3 what you used to get and medical is twice the monthly cost. They are paying so over market many people would have to take a 100k to 200K pay cut to leave to do same exact job elsewhere.

Pulte is about to swing that axe hard!

Let’s hope. Too bad democrats are always asleep at the wheel. They could have Les the charge to save money but would rather give it to urban elites. They were locked in with Freddie management in 2010’s. Obama and crew knew everything going on.

Before I realized what a backward company I was in at Freddie, I recommended a friend for an open position through my contracting company. This guy was/is a seasoned Java developer/applications architect who had been through high profile contracting gigs starting with MCI. He had a strong resume Verizon/AT&T/IBM consulting gigs, etc.

He was interviewed by the Indian director and three of his peeps. There was **no** cultural diversity in the interview panel who proceeded to pepper the candidate with the most obscure, irrelevant technical questions you can imagine, at a rapid non-stop pace. To his credit, my friend ended the 'interview' early and excused himself.

The director complained to my contracting company that they were sending him sub-standard candidates. Well, here's the 'breathtaking' part - the successful candidate was Indian, and he was the cousin of a member of the interviewing panel. He was technically weak and his written/spoken English skills were rudimentary.

But this guy was connected and although we were under whip-cracking deadlines by management, our new team member was given a free ride to float off to two hour lunches three or four times a week with his peeps.

There are talented IT pros out there that are US citizens that can't get a break and Freddie would bend over into impossible positions to make sure "H1B" Visa candidates were treated royally. That's breathtaking.

So let me ask you this to understand whether the hard right is accurate on this portrayal--that substandard H1B candidates are being hired at substandard pay. Is this true? Or is this H1B candidate receiving the same inflated pay that we're reading on this thread? That would be interesting to find out.

H1Bs are getting much less
From a previous H1B

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Agree with PP about the amount of backstabbing and money waste of Fannie. It worked out for me financially until it didn’t. They love to hire a shiny new narcissist who makes long-term employees lives Hell but you stay because of the ridiculous bonuses and incredible health benefits. I know people there who are very unhappy, but Due to concerns with healthcare/pre-existing conditions and fannies very generous healthcare plan, feel stuck.

And also the Severance and bonus you lose if you quit voluntarily. When I was there for 3 years only one person I worked with quit my level. 95 percent of people the ax swung so regularly it would hit you one day and you be perp walked out the door

Also the 8 percent 401K match is unheard of as they match it also on Bonus. Someone making 200K with a 100K bonus gets 24K match in 401K. And if you job hunted it was hard.

Lets say you make 200K and job hunt. Someone offers 10 perent raise that is only 220k. Maybe you can get if really lucky 20 percent raise to 240k. Then you get job offer to realize 401k match is only 4 percent, bonus is 1/3 what you used to get and medical is twice the monthly cost. They are paying so over market many people would have to take a 100k to 200K pay cut to leave to do same exact job elsewhere.

Pulte is about to swing that axe hard!

Let’s hope. Too bad democrats are always asleep at the wheel. They could have Les the charge to save money but would rather give it to urban elites. They were locked in with Freddie management in 2010’s. Obama and crew knew everything going on.

Before I realized what a backward company I was in at Freddie, I recommended a friend for an open position through my contracting company. This guy was/is a seasoned Java developer/applications architect who had been through high profile contracting gigs starting with MCI. He had a strong resume Verizon/AT&T/IBM consulting gigs, etc.

He was interviewed by the Indian director and three of his peeps. There was **no** cultural diversity in the interview panel who proceeded to pepper the candidate with the most obscure, irrelevant technical questions you can imagine, at a rapid non-stop pace. To his credit, my friend ended the 'interview' early and excused himself.

The director complained to my contracting company that they were sending him sub-standard candidates. Well, here's the 'breathtaking' part - the successful candidate was Indian, and he was the cousin of a member of the interviewing panel. He was technically weak and his written/spoken English skills were rudimentary.

But this guy was connected and although we were under whip-cracking deadlines by management, our new team member was given a free ride to float off to two hour lunches three or four times a week with his peeps.

There are talented IT pros out there that are US citizens that can't get a break and Freddie would bend over into impossible positions to make sure "H1B" Visa candidates were treated royally. That's breathtaking.

So let me ask you this to understand whether the hard right is accurate on this portrayal--that substandard H1B candidates are being hired at substandard pay. Is this true? Or is this H1B candidate receiving the same inflated pay that we're reading on this thread? That would be interesting to find out.

H1Bs are getting much less
From a previous H1B

But still too much. Meaning Fannie and Freddie salaries are so over inflated. That even much less is too much.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Agree with PP about the amount of backstabbing and money waste of Fannie. It worked out for me financially until it didn’t. They love to hire a shiny new narcissist who makes long-term employees lives Hell but you stay because of the ridiculous bonuses and incredible health benefits. I know people there who are very unhappy, but Due to concerns with healthcare/pre-existing conditions and fannies very generous healthcare plan, feel stuck.

And also the Severance and bonus you lose if you quit voluntarily. When I was there for 3 years only one person I worked with quit my level. 95 percent of people the ax swung so regularly it would hit you one day and you be perp walked out the door

Also the 8 percent 401K match is unheard of as they match it also on Bonus. Someone making 200K with a 100K bonus gets 24K match in 401K. And if you job hunted it was hard.

Lets say you make 200K and job hunt. Someone offers 10 perent raise that is only 220k. Maybe you can get if really lucky 20 percent raise to 240k. Then you get job offer to realize 401k match is only 4 percent, bonus is 1/3 what you used to get and medical is twice the monthly cost. They are paying so over market many people would have to take a 100k to 200K pay cut to leave to do same exact job elsewhere.

Pulte is about to swing that axe hard!

Let’s hope. Too bad democrats are always asleep at the wheel. They could have Les the charge to save money but would rather give it to urban elites. They were locked in with Freddie management in 2010’s. Obama and crew knew everything going on.

Before I realized what a backward company I was in at Freddie, I recommended a friend for an open position through my contracting company. This guy was/is a seasoned Java developer/applications architect who had been through high profile contracting gigs starting with MCI. He had a strong resume Verizon/AT&T/IBM consulting gigs, etc.

He was interviewed by the Indian director and three of his peeps. There was **no** cultural diversity in the interview panel who proceeded to pepper the candidate with the most obscure, irrelevant technical questions you can imagine, at a rapid non-stop pace. To his credit, my friend ended the 'interview' early and excused himself.

The director complained to my contracting company that they were sending him sub-standard candidates. Well, here's the 'breathtaking' part - the successful candidate was Indian, and he was the cousin of a member of the interviewing panel. He was technically weak and his written/spoken English skills were rudimentary.

But this guy was connected and although we were under whip-cracking deadlines by management, our new team member was given a free ride to float off to two hour lunches three or four times a week with his peeps.

There are talented IT pros out there that are US citizens that can't get a break and Freddie would bend over into impossible positions to make sure "H1B" Visa candidates were treated royally. That's breathtaking.

So let me ask you this to understand whether the hard right is accurate on this portrayal--that substandard H1B candidates are being hired at substandard pay. Is this true? Or is this H1B candidate receiving the same inflated pay that we're reading on this thread? That would be interesting to find out.

H1Bs are getting much less
From a previous H1B

But still too much. Meaning Fannie and Freddie salaries are so over inflated. That even much less is too much.

Do you know how much? Generally lower than banks and techs

[Anonymous]

another Freddie Mac employee. And in IT department. Every day I go in thinking I may be fired. There is nothing family friendly about Freddie Mac.

Completely arbitrary. No one in management feels safe and it ripples down. I have been through 5 VPs in last 4 years. Managers live in NY and have no investment in firm.

In one month, worked 3 weekends in a row, on top of full 50 hour weeks, and the weekends were 5:00 AM calls with 16 hour for deployments, and managers calling monday asking why I haven't completed something. I say managers because norm is to have people matrixed to multiple projects, so you thrash and show up for meetings and status calls, but get little done. No one cares about your family because most people are contractors from a managed service provider.

Really, how much has a 30 year loan changed over the years, it is not that hard, but the politics and restatement, and recession, and outsourcing, have turned it into a very un-family friendly place.

[Anonymous]

Anonymous wrote:another Freddie Mac employee. And in IT department. Every day I go in thinking I may be fired. There is nothing family friendly about Freddie Mac.

Completely arbitrary. No one in management feels safe and it ripples down. I have been through 5 VPs in last 4 years. Managers live in NY and have no investment in firm.

In one month, worked 3 weekends in a row, on top of full 50 hour weeks, and the weekends were 5:00 AM calls with 16 hour for deployments, and managers calling monday asking why I haven't completed something. I say managers because norm is to have people matrixed to multiple projects, so you thrash and show up for meetings and status calls, but get little done. No one cares about your family because most people are contractors from a managed service provider.

Really, how much has a 30 year loan changed over the years, it is not that hard, but the politics and restatement, and recession, and outsourcing, have turned it into a very un-family friendly place.

That’s how I felt my three years. When I got fired guy was telling jokes. Got new boss who did me dirty as soon as hired as wanted job his buddy. After two minutes said you look like nice guy I am sure you are not going to steal or Rob us. I will let you walk out on own no security guard.