Freddie Mac 2012 Annual Report Download - page 344

Performance Measure Weighting Targets/Goals Scoring
Summary of Performance
Against Targets
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% • All targets/goals were
achieved.
• 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.
•Short Sales
• 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.
•Real Estate Owned Sales 10% • Implement, as needed, loans to facilitate REO sales program by June 30,
2012.
10.0% • All targets/goals were
achieved.
• Expand financing for small investors in REO properties by June 30, 2012.
• Initiate disposition pilot, either through financing or bulk sales, by
September 30, 2012.
• Expand pilot programs and establish ongoing sales program, as agreed to
with FHFA, during 2012.
4. Manage Efficiently in Support
of Conservatorship Goals
20% 18.7%
• Conservatorship/ Board
Priorities
20% • Work closely with FHFA toward concluding litigation associated with
private-label securities and whole loan repurchase claims, as appropriate.
18.7% • Substantially achieved all
targets/goals. However,
certain control weaknesses
require remediation and
other aspects of the internal
controls environment need
strengthening.
• Prioritize and manage operations in support of conservatorship goals and
board directions.
• Adapt to evolving conservatorship requirements.
• Collaborate fully with FHFA and, when requested, Fannie Mae.
• Actively seek and consider public input on conservatorship-related
projects, as requested.
• Effectively identify, communicate, and remediate situations that create risk
for the conservatorships or avoidable taxpayer losses.
• Ensure corporate governance procedures are maintained, including timely
reporting to the board and adhering to board mandates and expectations.
• Take steps to mitigate key person dependencies and maintain appropriate
internal controls and risk management governance.
• Achieve milestones agreed to within the year with regard to accounting
alignment.
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