Fannie MaeChristi Adkins

MBA 595:Effective Professional Communication

I found in my research about Fannie Mae that they are still a struggling company trying to overcome the bailout of years past. Fannie Mae has made a lot of changes in the years since the bailout crisis but, the public still views them as sort of a joke. They need to take steps to prevent a crisis like this from happening again and steps are needed to regain public reputation they lost during this period. I would tell Fannie Mae to communicate with the public more let them know what is going on and keep the social media channels informed as they are the channels consumers go to first before any other.

Executive Summary

Fannie Mae is a government sponsored enterprise chartered by Congress to keep money flowing to mortgage lenders to help strengthen the U.S. housing and mortgage markets and to support affordable home ownership. Fannie Mae was founded in 1938 to help the housing market recover from the great depression. They got the mortgage market flowing again by selling bonds and using the money to buy mortgages from lenders. This rebuilt their cash supply so they could make more loans. In 1968, Congress chartered Fannie Mae to do the same thing only as a private company. Fannie Mae’s role in the market today is they are committed to serve in all communities at all times in good and bad this gives them the unique ability to respond to market challenges. Fannie Mae works with various different lenders including mortgage services and housing counselors.

History

Fannie Mae has long been committed to their mission of ensuring that working families have access to mortgage credit to buy homes they can afford over the long term or that they can secure quality rental housing. Their overall goal is to help as many families as possible stay in their homes, protect property values in communities across the country, and build stronger foundation for the U.S. housing market.

Mission, and Culture

Fannie Mae ranks number 8 on the Fortune 500 List. When I looked up articles on Fannie Mae I came up with 3,529 articles. Fannie Mae also has a Face book page with 1,905 likes and a website www.fanniemae.com . Fannie Mae has a twitter account as well with 622 followers.

The Reputations of the most Visible Companies (2010)◦ Fannie Mae ranks number 58 on this list of 60

companies. Fannie Mae ranks above AIG which is at number 59 and Freddie Mac who is number 60. They did not however make the list in 2011 or 2012. Freddie Mac and AIG did make the list for 2011 and 2012.

Rankings

Brand Finance Global Banking 100◦ Fannie Mae made the Brand Finance Global

Banking 100 list for 2008 at number 58. They ranked above Master Card at number 65, Freddie Mac number 83, and Charles Schwab at 97. However Fannie Mae did not make the list for the years 2011 and 2012.

Diversity Inc’s Top 25 ◦ Fannie Mae ranked number 2 in Diversity Inc’s

Top 25 of 2003. They ranked above Bank of America who was number 9, and Prudential Financial number 21. In 2004 they dropped to number 26, and by 2005 they dropped completely from the list.

Rankings (Cont.)

I would implement a policy where if a crisis like the bailout were to occur again Fannie Mae would address the public swiftly and reassuringly to keep them informed.

I would tell them to release the records stating what the company did with the bailout money to the public so the public will have a higher regard for the company.

Actionable Recommendations

I would tell Fannie Mae that they need to regularly update and make changes to their social media channels so the public is kept informed of what is going on in the company. I would tell them this because social media channels are where consumers look first before even looking at the company website for information on the company so the social media aspect is very important to the company reputation.

Actionable Recommendations (cont.)

Company overview. (2013). Retrieved from www.fanniedmae.com

Fortune 500 list. (2012). Retrieved from www.money.cnn.com/magazines/fortune500/2012/snapshots/2434.html

Money workplace. (2004). Retrieved from http://usatoday30.usatoday.com/money/workplace/2003-04-13diversity_x.html

Ranking the brands. (2009). Retrieved from www.rankingthebrands.com/brand-detail.aspx

WILLIAMS, M. J. (2010). Fannie Mae Speaks!. Vital Speeches Of The Day, 76(7), 293-297.

References