Fannie Mae 2012 Annual Report Download - page 194

189
Objectives Weighting Targets Final Score Summary of Performance Against Targets
• Propose timeline for continued
growth in risk sharing through 2013. • Met this target: Delivered 2013 plan for growth in risk-sharing activities to
FHFA in October 2012.
• Pricing 10% 10.0%
– Single-family
Guarantee Fee Pricing
Increases
– Develop and begin implementing
plan to increase guarantee fee pricing
to more closely approximate the
private sector.
– Met this target: Initial guaranty fee
analysis provided to FHFA in July
2012. After reviewing analysis, in
August 2012, FHFA directed us and
Freddie Mac to increase our single-
family guaranty fee prices by an
average of 10 basis points effective in
the fourth quarter of 2012. Developed
a plan for single-family pricing
increases in 2013 forward and
provided this plan to FHFA in
September 2012.
– Set uniform pricing across loan
sellers to extent practicable. – Met this target: Developed a national price increase proposal that levels
pricing between large and small
lenders, and delivered this proposal to
FHFA in June 2012. As noted above, in
August 2012, FHFA directed us and
Freddie Mac to increase our single-
family guaranty fee prices by an
average of 10 basis points effective in
the fourth quarter of 2012.
– Set plan to price for
state law effects on
mortgage credit losses
given default
– Work with FHFA to develop
appropriate risk-based pricing by
state. State-level pricing grid to be
completed by August 31, 2012.
– Met this target: Developed a plan for
state-based pricing adjustments and
delivered this plan to FHFA in July
2012. In September 2012, FHFA
published a notice presenting an
approach to adjust the guaranty fees
that we and Freddie Mac charge on
single-family mortgages in states
where costs related to foreclosure
practices are significantly higher than
the national average.
3. Maintain foreclosure
prevention activities and
credit availability for new
and refinanced mortgages.
20% 20.0%
• Loss Mitigation through
continued implementation
and enhancement of
Servicer Alignment
Initiative
10% • Enhance transparency of servicer
requirements around foreclosure
timelines and compensatory fees and
publish applicable announcements
by September 30, 2012.
10.0% • Met this target: Published updates to
our servicer requirements in June 2012
relating to compensatory fees and
allowable foreclosure timelines that
enhanced the transparency of these
requirements.
• Short Sales • Enhance short sales programs that
include efforts to identify program
obstacles that impact utilization by
June 30, 2012. Applicable lender
announcements to foreclosure
alternatives by September 30, 2012.
• Met this target: Issued new guidelines
to mortgage servicers in August 2012
to align and consolidate existing short
sale programs into one standard short
sale program.
• Deeds in Lieu and Deeds-
for-Lease • Design, develop, or enhance deed in lieu and deed-for-lease programs that
include efforts to identify and
resolve program obstacles that
impact utilization by September 30,
2012. Applicable lender
announcements to foreclosure
alternatives by December 31, 2012.
• Met this target: Issued new guidelines
to mortgage servicers in November
2012 to enhance and align existing
deeds-in-lieu and deeds-for-lease
programs.
• Real Estate Owned Sales 10% • Implement, as needed, loans to
facilitate real estate owned (REO)
sales program by June 30, 2012.
10.0% • N/A: Not a Fannie Mae objective;
applicable only to Freddie Mac.