Thread regarding Fannie Mae layoffs

IN LAW BASED GSE"S

This feedback is all great yet terrible at the same time and I feel sorry for the employees impacted by this devastation so close to the holidays. Fannie Mae and Freddie Mac have a superior reputation for bringing in more friends /family instead of well rounded experienced employees. Also most large companies HR departments have the better interest of the company in mind unless there is suspicion of a potential lawsuit where a manager has slipped abruptly. Its a known fact that if you go to HR, expect your career line to be diminished quickly.

To understand how politics at their finest operate, one would need to work there in order to understand that most of the process is automated, scripted and doesn't require much thinking or an IQ to be successful.

Its almost reflects a short term retirement home for mortgage career based workers that put their time and energy into the real world, flipped a coin and a stroke of luck know somebody within the company. Where knowledge, hands on training, licensing and continuing education is a requirement and crucial in handling mortgage documents, this is not the case at the GSE's. While its true that lenders and investor play by different rules than normal servicing organizations, you have to applaud Fannie/ Freddie for putting in such a fool proof system to minimize human error,

With these organizations are more friends and family based, the particular REAM/Credit division you refer to is very in law based and unfortunately one needs to have a manager in their back pocket in order to survive at Fannie Mae. This is the nature of the beast in large entities such as the GSE's and if you are not concerned or unable to become part of the in crowd, well don't fancy up your desk or office because your time there is short lived.

Prayers to the employees that were unable to woe management and save their career.

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