Salaries at Fannie Mae Corporation range from an average of $62,570 to $152,420 a year. Her varied and diverse experiences have aided her rise, and now that she has such a broad set of responsibilities, she has a broad ability to impact innovation within the company. Under conservatorship, the GSEs are certainly a moneymaker for the Treasury, but they also allow the federal government to effectively control the housing market. Of this total $0 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $0 came from other types of compensation. Johnson joins T. Rowe Price from Fannie Mae, where she served as executive vice president, chief operating officer, and a member of Fannie Mae's Management Committee. Peter High: Could you talk about your role as the Chief Operating Officer of Fannie Mae and the responsibilities the position entails? 1)Retention Award Terms - This Award is an incentive for you to remain employed by Fannie Mae in your current position and division, or a position and division determined by Fannie Mae through at least December 1, 2022. . You were the Senior Vice President of Multifamily Capital Markets and Pricing, the Chief Credit Officer [CCO], and the Chief Risk Officer [CRO]. We now see ourselves as the centerpiece of the entire ecosystem around housing, which gives us a different sense of responsibility. Site by, The new, must-have technology thats tackling lendings greatest challenges. As a result, we have gotten some terrific seed ideas that we are looking to bring into production. Kimberly H. Johnson is Chief Operating Officer, . Executive Compensation Data Year: Trend Analysis As at FEDERAL NATIONAL MORTGA ASSN, made $0 in total compensation. Fannie Mae employees rate the overall compensation and . Other senior executives that have departed in the past two years include: Desmond Smith, chief customer officer in Fannie Maes single-family business, who is now chief growth officer at United Wholesale Mortgage; Andrew Peters, Fannie Maes head of single-family strategy and insights, whos now at Lenderworks; and Jeffrey Walker, most recently Fannie Maes single-family chief strategy officer, who now leads CredEvolv. That said, if this digitization is not in service of a business outcome, it lessens the potential impact. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. With this opportunity, we have to be resilient, secure, and we must ensure that we help the industry advance so that costs and risk are reduced for everyone. Henry Cason, who spent more than 27 years at Fannie Mae and was most recently the head of digital products, departed in January to become CEO of St. Louis-based personal finance startup FinLocker. This needs to stop now.. Two other Fannie Mae executives followed Bon Salle to Homepoint. In that same interview with Forbes, Johnson reflected on her rare position of leadership and what it said about womens ability to lead a major company. I am a believer that good ideas come from everywhere, so you cannot have one central group that owns all the innovation. This is a BETA experience. In June, HousingWire examined the executive-level brain drain at Fannie Mae in recent years. In this video, Kimberly Johnson, executive vice president and chief operating officer discusses how Fannie Mae uses a suite of AWS solutions, from serverless . The senior executive exodus at Fannie Mae continues: the latest departure is Kimberly Johnson, the chief operating officer of the government sponsored enterprise. The position given to me specifically was designed to spark innovation efforts. Kimberly has 3 jobs listed on their profile. Nearly two months after the FDA opened the door for certain pharmacies to dispense abortion pills, Walgreens has said it will not do so in several states where Republican attorneys general have opposed, according to a Politico report. At Fannie Mae, everything we do is embedded with a customer perspective. The average Fannie Mae salary ranges from approximately $52,152 per year for an Administrative Assistant to $408,266 per year for a Principal. In addition to a $500,000 base salary and $3.75 million annual incentive bonus, Brown will receive $2.6 million in stocks over the next four years, according to a filing with the Securities and Exchange Commission. Freddie announced in September that former CEO Donald Layton would retire in the second half of 2019 and that David Brickman, then the head of the multifamily business, was being promoted to president. In March, new limits on the amount of investment property mortgages the GSEs are permitted to buy sparked an industry backlash. Since collateral is one of the more important parts of our lending strategy, it became vital for us to get great information on the topic. In the letter, Boothe states that the manufacturer has been running at a loss for some time and that its lenders would not give it more funding, and as a result, it was closing all US sites and laying off all employees effective immediately as of Thursday February 23.. WASHINGTON, DC - Fannie Mae (FNMA/OTC) is proud to announce that Senior Vice President and Chief Risk Officer Kimberly Johnson was recognized by the National Association for Female Executives (NAFE) with the 2016 Women of Excellence Award for Community Service. Can you reflect on how the organization has changed across your tenure, and how you see the company expanding or growing? The decision to have the positions of CEO and President at each enterprise held by different individuals, whose compensation is set differently depending on their positions, did not and does not violate the CEO pay cap, the agency said in a written response to the IGs findings. These events are specifically designed to encourage people from across the company to brainstorm new ideas and bring innovative opportunities forward. one-time use only and expires after 24 hours. 2021. Variety has been a major theme of my career as my path has seen many shifts. 69% of the management team is White. I learned this at multiple places, including the derivative space, hedge funds, investment banks, and even in risk. The company then announced this month that Layton would step down July 1, when Brickman would become the next CEO. Words cant bring Christina Aguilera down but frown lines can. Comedian and radio show host D.L. High: You are currently one of the few female COOs, especially in large companies similar to yours. Scoops about T. Rowe Price . ), who introduced the 2015 legislation with-then-Sen. David Vitter (R-La. Unlock this article along with other benefits by subscribing to one of our paid plans. in economics from Princeton University and an M.B.A. from Columbia University. Required fields are marked *. Johnson has spent the last year in her new role as chief operating officer strengthening Fannie Mae's workforce and "fostering an environment where innovation can thrive." For the year ahead, she is focusing on leading the company's ongoing digital transformation and realizing a towering vision of reducing the time it takes to get a mortgage. That said, we are looking to bring people together to collaborate in a different way. Housing finance experts agree there is little reason for the government to end what is an extremely lucrative arrangement. Aurora extends the Better.com merger deadline once again, Real estate agents wonder if inventory levels will ever return to normal. With the roles that are seen as non-traditionally female-oriented, it does not have to be male or female characteristics that define how we do our jobs, she said. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to email a link to a friend (Opens in new window), Click to share on SMS (Opens in new window). If companies can figure out how to connect the people to the work, all sorts of avenues will open up. Simply put, the facts do not support the conclusions summarized in the report, Freddie spokesperson Chris Spina said. Real Chemistry is adding a healthcare professional data and analytics company to its lineup. Israeli Startup D-ID Puts A Face On Generative AI Chatbots, Kempus Is Creating Safe Online Communities For University Students, Shopic To Deploy 2000 AI-Powered Smart Shopping Carts, Quantum Motion Adds 42 Million To Accelerated Funding Of Quantum Computing Startups. Do you have a leader over the disciplines that you mentioned, or do most people span a diverse array of topics the way you do? Because of this, our focus going forward will be on using those capabilities to further our future business model. As for trial design, FDA recommends randomized, parallel-group, double-masked trials in which the treatment group either shows superiority to the placebo group, or non-inferiority to Roches Lucentis or Regenerons Eylea. How does your organization get involved in the innovation within the company? Former Fannie Mae CEO and President Timothy Mayopoulos, who left in October, notified FHFA executives early last year of his plan to step down by the end of 2018, prompting Watt to raise the need for succession planning with the chairman of Fannies board of directors, according to the IG report on oversight of Fannie. Ms. Johnson served in Fannie Mae's Multifamily business as Senior Vice President for loans, securities, credit pricing and modeling, and as Vice President in our Capital Markets group with . The mortgage financier was roughed up in the fallout from that crisis and implicated as one of the institutional players that loaded up on bad-money subprime loans with the governments backing. The oldest executive at Federal National Mortgage Association is ReneeGlover, 70, who is the Independent Director. Many people wonder how it is possible to make the leap from CRO to COO because of all the technology aspects that come with it. Prior to her 15-year stint at Fannie, Johnson worked for nearly six years as a director of fixed income sales at Credit Suisse and before as an equity trader at D.E. Kimberly Johnson joined Fannie Mae in 2006. As a result, these individuals become safer borrowers who are more likely to pay their mortgages. In Fannies case, that meant appointing a separate person to take on the role of president. In fact, the firms derivatives portfolio hedging those balky mortgages may have added even more fuel to the fire. (To listen to an unabridged podcast version of this interview, please click this link. During his tenure, Calabria has stressed his desire for the enterprises to hold higher liquidity levels as a buffer against a market downturn. The plan, according to the IG, cast the $600,000 cap as a recruiting challenge that could be addressed by a change to Fannies management structure. This broader perspective has energized our workforce to act differently than we used to, which has been a great personal learning experience. The common securitization platform was a high-risk transition, said Jaret Seiberg, the financial services and housing policy analyst for Cowen Washington Research Group. 11% of Fannie Mae management is Hispanic or Latino. While we have had COOs at Fannie Mae, this was a different configuration of responsibilities. As the Chief Operating Officer and Executive Vice President of Federal National Mortgage Association, the total compensation of Kimberly Johnson at Federal National Mortgage Association is $2,373,250. leading technology, data, enterprise models, operations, the enterprise program management office, and resiliency. Generating more accessibility to homeownership, creating better living communities, and ensuring that the entire ecosystem is functioning better are superior games to win than just being successful and pumping out more mortgage-backed securities. While most people have a risk tolerance, they do not spend substantial time thinking about what it is, how to communicate it, and how to get other people lined around it. Thats My Word is tackling disparities in multiple myeloma diagnosis and treatment in the Black community. I would categorize these as our post-crisis, during crisis, and pre-crisis identities, all of which have generated extremely different atmospheres. ), slammed the FHFA today for allowing the workaround in a statement to POLITICO. In February 2020, FHFA hired investment bank Houlihan Lokey Capital to create a roadmap toward a possible IPO, including business and capital structures, market impacts and timing, and available capital-raising alternatives. Its not just employee pension plans that were axed when the government seized the enterprises: FHFA clamped down on conferences and travel to meet customers, former executives said. Regarding our place in the housing industry, while most companies are trying to win, we realized we have a larger cause. It's the latest in a string of high-profile executive departures at the GSE. Peter moderatestheForum on World Class ITpodcast series. Endpoints News connected with the new chair of the generic industrys Association for Accessible Medicines, Christine Baeder, who is also Tevas COO, via video conference on Friday. Fannie Mae and Freddie Mac are in their twelfth year of conservatorship, and Congress has not yet enacted legislation to define the GSEs long-term role in the housing finance system, the document reads. Because of this, I would love to see more effort around building the pipeline throughout career levels, rather than exclusively at the beginning. Got it! Johnson holds a B.A. The effort centers on pledges, or people giving their word, to spread information and increase awareness. Following the crisis, we are no longer trying to win exclusively for us, but we are trying to win for everyone.