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Exit opps will likely be at the seller/servicers who love to pick off staff from both in order to get an insider who can make a call and get a better deal for their clients.
Its not impossible to go work for a borrower, but I haven't seen it.
I’ve seen it. Don’t want to name the specific example for sake of anonymity but I know it’s happened recently. I think a lot of people stay at the agencies out of happiness / solid pay / work-life balance more than inability to go to the buy side
I did not meant to imply it's not possible, its just that I personally haven't seen it. Whereas, I have seen several leave to go work for seller/servicers b/c those companies love to have an insider on their team. I should clarify that I'm not in D.C. or a city with a large regional GSE office (Dallas, NY, Chicago) so understand that my experience would be different when it comes to seeing folks jump to the developer/investor side mainly for that reason.
Our current Freddie Mac rep has been there 30+ years and I think there are many that have significant tenures at both GSEs b/c it pays pretty well, seems to be more insulated from ups and downs of market cycles and has a reasonable work/life balance.
Good luck
I know this is a bit dated but do you think Freddie is a good place to start to eventually end up in CRE acquisitions? As someone who works at a top tier bank (non CRE related) trying to break into CRE right now in this market, I'm not getting much traction anywhere - not the megafunds nor smaller shops either, so thinking about alternatives.
The D.C. area, which is home to both GSEs, is flooded with multifamily seller/servicers + countless multifamily development, investment, and management groups. Good exit options, but honestly, the GSEs are the type of place that promote internally. You stay put you'll be making $175-200k (working a 40-hour week) after 10 years. They really value institutional knowledge (i.e. knowledge of their own firms).
Plus the new Fannie Mae building in downtown DC looks nice.
It does, but I do know that some people at Fannie aren't happy about where they built cause it just makes it more painful for them to get out to the office. But definitely looks like a badass building.
Correct. If you live adjacent to the Metro (I do), it's easy access. If you're a normal adult with kids and a townhouse or house, the drive is a complete grind, and the "first mile" to the Metro is really difficult without having your spouse able to drop you off.
They have free parking though at the office and are only in office 3 days a week. They also have a large office in Reston and are going to end their lease in 2029 on the downtown office and due to their charter look from something else in DC. Freddie has a easy in and out complex in Tysons.
I guess they pay, ok.GSE's pay is much better than the Agency's, and the WLB is up and down. The benefits at the Agencies are better, though. I know some people who left Agencies to go to the lender/servicer and make significantly more than they were at the Agency.
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