Posts by Donna Corley
Donna Corley is the senior vice president and division chief risk officer for Single-Family at Freddie Mac. In this role, her responsibilities encompass designing pricing strategies for single-family mortgages; ensuring prices accurately reflect the risk profile of the mortgages received; overseeing the evaluation of complex credit risk settlements and structures; and managing all matters relating to the issuance, sale, and distribution of Freddie Mac’s single- and multi-class securities. Previously, Donna worked on Freddie Mac’s retained portfolio as vice president of Adjustable Rate Mortgages (ARMs), where she was responsible for making investment decisions for both Agency and non-Agency ARMs.
Private mortgage insurance (PMI) plays an important role in the mortgage finance system because it makes homeownership possible when 20 percent down payments are an obstacle to otherwise qualified borrowers. The 2008 housing crisis underscored the importance of the mortgage industry to maintain a financially strong and resilient system that can provide consistent liquidity and broaden the access America's borrowers have to affordable mortgage credit in good times and bad.
The U.S. housing finance system is never static. As the details of possible future systems are debated on Capitol Hill and the Internet, the current system continues to change while financing billions of dollars in single- and multifamily mortgages every month. Freddie Mac's approach to mortgage finance is changing in ways intended to maintain liquidity for borrowers while posing less risk to taxpayers.
Freddie Mac's innovative credit risk sharing initiatives are not only getting traction with investors but have received significant praise from an influential and respected publication, Euromoney. Our inaugural Structured Agency Credit Risk (STACR®) debt notes recently earned Euromoney's Global Structured Deal of the Year for 2013. This is the premier award for structured capital transactions in the global capital markets.