Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Freddie and Fannie both created a third overbloated company called Common Securitization solutions to handle all the back office IT side of mortgages.

So Fannie and Freddie have less to do yet they bloated up more. Now they have three bloated companies doing the work of one company

Do you trust Pooty to manage something as crucial as the securitization of almost all of America’s mortgages? I can’t believe his nomination went through. what a joke.

No but I trust his grandad!

Anonymous wrote:

Anonymous wrote:Freddie and Fannie both created a third overbloated company called Common Securitization solutions to handle all the back office IT side of mortgages.

So Fannie and Freddie have less to do yet they bloated up more. Now they have three bloated companies doing the work of one company

Do you trust Pooty to manage something as crucial as the securitization of almost all of America’s mortgages? I can’t believe his nomination went through. what a joke.

Anonymous wrote:

Anonymous wrote:Freddie and Fannie both created a third overbloated company called Common Securitization solutions to handle all the back office IT side of mortgages.

So Fannie and Freddie have less to do yet they bloated up more. Now they have three bloated companies doing the work of one company

Do you trust Pooty to manage something as crucial as the securitization of almost all of America’s mortgages? I can’t believe his nomination went through. what a joke.

Anonymous wrote:Freddie and Fannie both created a third overbloated company called Common Securitization solutions to handle all the back office IT side of mortgages.

So Fannie and Freddie have less to do yet they bloated up more. Now they have three bloated companies doing the work of one company

Anonymous wrote:

Anonymous wrote:That these companies don’t earn the money they make is such a ridiculous take. Does the money just magically appear? Has some unknown entity been doing all the work and then giving them the money, with the board covering it up to shareholders for decades? Are all the people clamoring for privatization mistaken because there actually isn’t money being earned?

Does the government “earn” revenue through the federal income tax? Extortion all around.

Anonymous wrote:That these companies don’t earn the money they make is such a ridiculous take. Does the money just magically appear? Has some unknown entity been doing all the work and then giving them the money, with the board covering it up to shareholders for decades? Are all the people clamoring for privatization mistaken because there actually isn’t money being earned?

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.

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 its the same at the CFPB, where "feds" are WAY overpaid. DOGE could find a boatload of savings at these agencies.

bruh. It’s not the “taxpayer dime.” Fannie and Freddie earn their own money through purchasing mortgages and securitizing them. They PAY money to the government.

They don’t earn their own money. The government backstop provides them what are essentially monopoly profits.

Anonymous wrote:

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 its the same at the CFPB, where "feds" are WAY overpaid. DOGE could find a boatload of savings at these agencies.

bruh. It’s not the “taxpayer dime.” Fannie and Freddie earn their own money through purchasing mortgages and securitizing them. They PAY money to the government.

They don’t earn their own money. The government backstop provides them what are essentially monopoly profits.

--
Have people forgotten the history of the GSEs? Other countries don't have 30 year fixed mortgages -- your loan may amortize over 30 years, but its a 5 year mortgage you need to refinance every half decade or less -- too much default and interest rate risk.

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 its the same at the CFPB, where "feds" are WAY overpaid. DOGE could find a boatload of savings at these agencies.

bruh. It’s not the “taxpayer dime.” Fannie and Freddie earn their own money through purchasing mortgages and securitizing them. They PAY money to the government.

They don’t earn their own money. The government backstop provides them what are essentially monopoly profits.

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 its the same at the CFPB, where "feds" are WAY overpaid. DOGE could find a boatload of savings at these agencies.

bruh. It’s not the “taxpayer dime.” Fannie and Freddie earn their own money through purchasing mortgages and securitizing them. They PAY money to the government.

They don’t earn their own money. The government backstop provides them what are essentially monopoly profits.