Freddie/Fannie Underwriting
Can anyone speak upon Underwriting roles in GSE? How are the exit ops within the MF space? Would appreciate any insight.
Can anyone speak upon Underwriting roles in GSE? How are the exit ops within the MF space? Would appreciate any insight.
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Career Resources
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
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.
We had a guy in our office recently jump ship, but he was poached to go to another group that was starting up GSE lending.
As for exit ops, hard to say. I think I'd like to get a few more years experience and then jump ship to a life co. But my role in GSE is more on the screening/transaction side.
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