Freddie Mac 2014 Annual Report Download - page 262

257 Freddie Mac
Table 67 — Achievement of Corporate Scorecard Goals
Corporate Scorecard Goal Assessment of Performance
People All elements of this goal were achieved or exceeded. We
worked to build the right culture, as indicated by significantly
exceeding the desired level of improvement in employee
survey indicators. Our high-performer turnover was low and
we took steps to improve leadership diversity by improving
diverse talent pipelines and external candidate pools.
Maximize the contributions of our people
Our Customers All elements of this goal were either achieved or exceeded,
including maintaining or improving the customer satisfaction
levels for the single-family and multifamily business lines.
We also exceeded our desired single-family GSE market
share, enhanced customer service and expanded customer
communications with select large multifamily lenders.
Strive to achieve industry-leading customer experience
levels
The Mission We believe that we did not achieve the benchmark level for
two of the 2014 single-family affordable housing goals - Very
Low Income Purchases and Low Income Purchases - despite
employing a number of tactics intended to increase qualifying
purchases. We believe, however, that we did achieve the
remaining 2014 single-family affordable housing goals, and
the 2014 multifamily affordable housing goal. We also
exceeded a goal that measures loan modifications and
repayment plans completed as a percentage of seriously
delinquent loans.
Help people own, rent and stay in their homes
Financial Performance Certain elements of this goal, including earnings on New
single-family book mortgages, liquid assets as a percent of the
retained portfolio and reduced core operating expenses, fell
just short of the desired level of achievement. While we have
reduced operating expenses, the amount of reduction was less
than planned due to higher than anticipated technology
investments. We significantly exceeded the other elements of
the goal related to the volume of retained portfolio agency
structuring and non-agency sales, the amount of eligible
single-family mortgages subject to risk transfer, maintaining
multifamily profitability and actively managing the retained
portfolio.
Improve our efficiency and core financial performance
Risk Management We achieved or exceeded all elements of this goal, which
related primarily to making informed risk-reward decisions.
Also, as part of managing the control environment, we
continued to reduce the total number of open/active issues.
Make risk management a competitive advantage
Technology & Infrastructure We achieved all elements of this goal by:
Utilize technology and infrastructure to prepare for a fully
competitive market •Deploying a new out-of-region disaster recovery facility;
•Implementing five critical, customer-facing information
technology applications during the year;
•Strengthening our information security; and
•Improving our facilities utilization by moving out of a
leased building and staffing certain critical positions
outside of our home region.
Execution We achieved all elements of this goal by delivering the vast
majority of our key initiatives on schedule and on budget,
significantly decreasing the number of operational events and
reducing both redundant controls and the frequency with
which certain controls are executed to enhance efficiency
without increasing our risk profile.
Do everything better, faster, and more cost effectively
through superior execution
The Compensation Committee then assessed the individual performance of each NEO other than Mr. Layton, whose
performance is not discussed below because his compensation does not include Deferred Salary. In making its assessment, the
Committee received input from Mr. Layton, and used its judgment to determine the reduction, if any, for each NEO. In each
case, the Compensation Committee's determination was consistent with Mr. Layton's recommendation. FHFA reviewed and
approved these determinations.
Each NEO’s individual performance is discussed below.
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