31 Fannie Mae Interview Questions & Answers
Below is a list of our Fannie Mae interview questions. Click on any interview question to view our answer advice and answer examples. You may view 5 answer examples before our paywall loads. Afterwards, you'll be asked to upgrade to view the rest of our answers.
Table of Contents
- 1. Adaptability Questions
- 2. Ask The Interviewer Questions
- 3. Behavioral Questions
- 4. Career Goals Questions
- 5. Communication Questions
- 6. Compatibility Questions
- 7. Competency Questions
- 8. Direct Questions
- 9. Discovery Questions
- 10. Leadership Questions
- 11. Problem Solving Questions
- 12. Salary Questions
- 13. Stress Questions
- 14. Teamwork Questions
- 15. Technical Questions
- 16. Trust Questions
Adaptability
1. How long will it take you to make a meaningful contribution to our team at Fannie Mae?
How to Answer
While hiring managers understand that you will need some time to get up to speed in your role, convey to your interviewer that you're ready to hit the ground running on day one. As the national leader in providing mortgage-backed securities, Fannie Mae has a high-profile reputation to maintain. As such, hiring managers are looking to hire the best of the best to maintain a positive company reputation. With an abundance of qualified candidates, hiring managers want employees who will be productive in their roles right away and won't need excessive training.
Written by Rachel Hills on September 28th, 2021
Answer Example
"I plan to make an impact as soon as possible at Fannie Mae. I've already researched this position and have all the requisite skills outlined in the position description and proficiency in other relevant skills that I think would be useful in developing the (XYZ) project at Fannie Mae. As you can tell, I'm incredibly eager to get started, why is why I have created a 90-day impact plan that I would like to share with you. After that, I'm interested in hearing from you about if there are any additional actions that I haven't included that I could take in the first week to be successful in this role."
Written by Rachel Hills on September 28th, 2021
Adaptability
2. If hired to this role here at Fannie Mae, what do you see as one initial hurdle you will have to overcome in your first weeks on the job?
How to Answer
Your interviewer wants to know that you will proactively respond to challenges right off the bat. Fannie Mae's company culture emphasizes employees' ability to 'thrive on the new challenges and opportunities that each day brings.' Your interviewer wants to hear that you will fit in well with Fannie Mae's hardworking team by viewing challenges as opportunities for growth.
Further, your interviewer wants to ensure you have the formal training needed to be successful on the job or if you'll need support to fill in training gaps. Similar to the 'greatest weakness' question, the key to answering this question is to point out a potential challenge and then share your plan for how you will overcome that challenge. If you can think of one off the top of your head, share with your interviewer an example of when you were confronted with a challenge at a new job and how you responded to this adversity.
Written by Rachel Hills on September 28th, 2021
Answer Example
"Having put a lot of thought into this even before submitting my resume for this position, I realize that my greatest hurdle would be leaping to a different industry. My five years of experience out of college have been focused on trust administration and estate planning services. Still, I feel that I've built a solid knowledge base to transition into a role focused on mortgage financing here at Fannie Mae. If given the opportunity to join your team, my initial focus would be to jump right into learning all I can about this niche."
Written by Rachel Hills on September 28th, 2021
Ask The Interviewer
3. Do you have any questions for me?
How to Answer
Make sure that your answer to this question is a resounding 'yes!' This question should be straightforward, and you can, without a doubt, expect your interview to conclude with time for you to ask the interviewer any questions you have about Freddie Mac or your role. Ensure that you've brainstormed 2-3 thoughtful questions before the interview, and then demonstrate a genuine curiosity to learn the answer. Listen carefully to your interviewer's response, and feel free to ask any follow-up questions that you have.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"I'm excited about this opportunity at Fannie Mae and am ready to hit the ground running from day one if given the shot. In your opinion, what can a new employee do in the first 30 days to go above and beyond in this role? "
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"I appreciate you taking the time to learn more about my background and why I'm excited about this role with Fannie Mae. I'm interested in learning more about leadership potential and the typical trajectory at Freddie Mac. Could you share with me your experience with career advancement here?"
Written by Rachel Hills on September 28th, 2021
Behavioral
4. At Fannie Mae, our team members often have to work under a tight deadline. Talk about a time you had to work under a tight deadline in the past. How did you handle that situation and what made it a success?
How to Answer
The financial field can often be chaotic and stressful for those working on high-pressure deadlines. As a government-sponsored enterprise, Fannie Mae is not known for having the same notoriously demanding hours as other financial corporations. Regardless, as an analyst at Fannie Mae, you will still be expected to work efficiently under time constraints and stick to deadlines.
Choose a situation--ideally, one in the financial space--that demonstrates your ability to work efficiently and calmly under an impending deadline. Regardless of which situation you choose to discuss, be sure to demonstrate how you remained calm, focused, and on-task to get the job done.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"In my current role, I'm tasked with preparing some reports for our leadership team's bi-weekly meeting. Upon taking that responsibility, I made sure that I kept myself organized during each workday and saved and prepped relevant information needed for their report. A couple of months ago, I was informed first thing in the morning that the meeting was being moved a week up to later that day due to some conflicts and vacation time for some of the team. Right away, I moved some things on my calendar to make this a top priority. From there, my regular organization of the materials needed made it easy for me to complete my job."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"During the last semester of my MBA program last spring, I was nearing completion of my capstone project. The project was a case study of mergers within the manufacturing industry and was a great overall project to learn from. During the semester, the full-time job I was working to put myself through school was becoming much more demanding, and parts of my project got postponed to a point where I feared not being able to complete it to the best of my abilities with the final due date approaching. Right away, I rearranged my work schedule to work half time and began plugging away at the final pieces of the project. To complete it, I had to sacrifice some outside weekend events with friends. While sad to do that at first, I learned some great lessons on time management, project management, and sacrifice."
Written by Rachel Hills on September 28th, 2021
Behavioral
5. Discuss how you approach explaining complex ideas in simple terms.
How to Answer
A crucial part of customer service within the financial services field is making complex information digestible for your clients. After all, that's why clients hire professionals as the expert! Your interviewer wants to hear that you have developed solid strategies to translate financial or business jargon into easy-to-understand terms for clients whose knowledge is likely less specialized in these areas. In your answer, describe your communication style and, if you can, provide an example of a time you explained a complex idea in simple terms with good results.
Remember, this skill also translates to interpersonal work on a team. Your ability to communicate your ideas clearly and impacts how well you work with others.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"I strive for a straightforward and concise communication style with clients and colleagues. As a financial advisor, I focused on listening to my clients and their most pressing financial needs and goals in my previous work. I made an effort to echo their language and avoid esoteric ideas that I knew wouldn't be relevant to what they needed to hear. Above all, I ensure that my tone is never patronizing towards clients or colleagues. I often learn something new from those who I work with and place great value on hearing their input."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"To communicate effectively, I strive to convey the essence of an idea in simple terms rather than deep-diving into the details of more technical matters. I've found this to be an important component of humility within the industry. Furthermore, If I'm having trouble explaining a new concept in simple terminology, I've found that it usually means that I have more research to do myself. I place incredible value on continuous learning within the industry via publications, newsletters, podcasts, and conferences. Keeping myself educated allows me to explain complicated ideas in a way that makes sense to people outside of the industry."
Written by Rachel Hills on September 28th, 2021
Behavioral
6. Tell me about a time when your listening skills helped you solve a problem.
How to Answer
Your interviewer is asking this question to get a better sense of how you will operate in a team and interact with your coworkers. This question is particularly relevant for those that will serve in a client-facing role. In this setting, active listening is key to maintaining successful and long-term client relationships. Your interviewer knows that listening is a valuable yet challenging skill that takes time and effort to improve. Give an example that demonstrates how you avoided miscommunication and worked towards a goal by using your listening skills. This means giving the speaker your full attention and asking clarifying questions afterward to check your understanding.
Written by Rachel Hills on September 28th, 2021
Answer Example
"My boss asked me to manage a project that involved various tasks that I had never done before, including running new reports that would aid in solving a consistent customer problem we had encountered. After my boss communicated the main issues clients were experiencing, I made sure I understood what she needed of me by asking straightforward questions that got to the crux of the issue, including 'So what you're asking is...?', 'Do you mean that you need me to do (X)?,' and 'What do you think about (X) approach?' When navigating new territory, I found it helpful to include active clarifying questions in my listening approach. I jumped on the project right away, and my boss was impressed with the solution I designed."
Written by Rachel Hills on September 28th, 2021
Behavioral
7. The day-to-day life at Fannie Mae can be hectic and stressful at times. If hired for this role, how would you keep yourself motivated when working with stressed colleagues and pushy clients?
How to Answer
Many roles at Fannie Mae require you to think and act quickly in a fast-paced environment. As a result, you will likely deal with colleagues and clients who are stressed out, overwhelmed, or working under tight deadlines. Your interviewer wants to know that you will be able to work effectively in that kind of environment. Discuss a time when you've thrived in a high-pressure and fast-paced environment like this in the past, highlighting the personality traits that have contributed to your success in these types of situations.
Changes in interest rates, world events, and demographics--as well as mismatches between supply and demand--are all external factors that have the potential to add to stress levels among colleagues and clients. Demonstrate that you can handle volatility with these factors without crumbling under pressure.
Written by Rachel Hills on September 28th, 2021
Answer Example
"Being a person that thrives in a fast-paced work environment, I'm confident in my ability to handle stressed colleagues and clients. As you can see from my resume, I've spent the last two years in the investment banking industry, where my team handled an enormous workload and worked under incredibly tight deadlines all of the time. Realizing that someone else's stress wasn't directed at me was the key to maintaining personal health and balance on the job. Furthermore, I learned to use tight deadlines as motivation to work as efficiently as possible. My experience in banking allowed me to grow comfortable with market volatility and communicating the factors that are outside of my control. I imagine I would be drawing on these experiences frequently as an analyst with Fannie Mae."
Written by Rachel Hills on September 28th, 2021
Career Goals
8. How have you worked to develop yourself professionally throughout your career?
How to Answer
As a Fortune 500 company and household name, Fannie Mae knows that professional growth and development are vital to remaining at the forefront of the mortgage financing industry. For this question, your interviewer is looking to ensure that your values surrounding professional development match the company's values. Use this question as an opportunity to highlight the many ways that you have taken the initiative to continuously improve professionally. Highlight any continuing education you have completed, any societies or groups you belong to, and publications you read regularly. All of these serve as excellent examples of your drive to grow professionally.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"I am a firm believer in being a lifelong learner in my work as a data analyst. As technology has changed over time, I see it as very important to keep myself up to date with the latest technological advancements within data. Just in the past year, I've participated in both the Data Fest and Data Summit national conferences. I stay up to date on industry news through an annual subscription to (XYZ) publication. Also, I recently decided to join an online networking group within the industry to learn from my peers about challenges they've encountered and strategies they've developed to overcome them."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"In the financial field, I have to stay at the top of my game to compete with other advisors and keep clients happy and flourishing. To do this, I subscribe to and read many of the great publications that are out there. Some of my favorites include the Wall Street Journal, Money Magazine, and Forbes. I also subscribe to many others. Also, I am a member of NAIFA, and I have attended the organization's Congressional Conference on a few occasions."
Written by Rachel Hills on September 28th, 2021
Communication
9. At Fannie Mae, you may be asked to give presentations and updates to various teams, clients, or other stakeholders. What experience do you have presenting in front of an audience?
How to Answer
Your interviewer is looking to gain insight into the strength of your interpersonal and presentation skills with this question. Many roles at Fannie Mae will require you to present regularly to the key stakeholders who will make decisions based on your findings. As such, you need to be comfortable with your presentation and public speaking skills. In your answer, discuss the specific experience you have in presenting to large groups and the skills you possess to help you thrive in that position.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"As I look back on my career as an economist, working in multiple different industries, I feel confident in my ability to communicate and work effectively with others. In my current role in the insurance industry, I am a regular guest at many corporate functions and agent staff meetings where I present on economic trends. During these presentations, I am charged with creating interactive presentations to help engage our audience and provoke questions from them. I am comfortable in being a subject matter expert in front of these groups and would look forward to being thrown into this role here at Fannie Mae."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"In my current role, I work hand in hand with staff to walk them through my reports that I create to explain my findings and what it means in their daily work. In this role, I see myself as an adviser who helps educate and help our staff and organization prosper, and I love that aspect of my role. If brought aboard the team here at Fannie Mae, I would see myself as that same educator that would present my findings to your team in a fun and useful manner."
Written by Rachel Hills on September 28th, 2021
Compatibility
10. A key part of our mission at Fannie Mae is making homeownership accessible to more people, especially low-to-moderate income individuals. Do you have past experience working with or advocating for low-income or underserved populations?
How to Answer
Fannie Mae's mission centers on making homeownership a reality for more individuals by providing a product that has come to dominate the housing arena: the 30-year fixed-rate mortgage. This loan allows homeowners to plan for regular mortgage payments and make the potentially overwhelming task of buying a home a feasible option for more people. Fannie Mae supports this mission by working with secondary mortgage companies to pool mortgage-backed securities and then sell them on the open market by tranche.
While interviewers don't necessarily expect you to have experience providing financial planning or loan administration services to low-to-moderate income individuals, they do hope that your values align with Fannie Mae's mission and culture of inclusion and accessibility. If you do have experience in this space, feel free to share an example with your interviewer.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"I don't have any direct experience working with these populations, which is one of the main reasons that I'm drawn to this role with Fannie Mae. In my previous position, I worked in wealth management for high-income individuals, helping them manage their portfolios and grow their wealth. With wealth disparity on the rise in the US, I'm looking to pivot in my career as it's important to me to make financial planning more accessible for lower-income populations. Homeownership is without a doubt one of the most important investments individuals and families can make to increase their financial stability, and I'm looking to join in on fulfilling that mission with Fannie Mae."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"In addition to my full-time position as a financial advisor at (XYZ) firm, I've spent the past eight years providing pro bono financial counseling services to underserved populations who would not normally have access to a financial advisor and the services that come with it. I've found the work incredibly rewarding, and I've learned so much from these meetings. It's crucial, in my opinion, to ensure that my values are aligned with my professional role, which is why I'm looking to expand my impact on these populations through this position at Fannie Mae."
Written by Rachel Hills on September 28th, 2021
Competency
11. In this role with Fannie Mae, we will rely on your organized and methodical approach to provide financial analysis reporting. What does your current reporting process consist of?
How to Answer
Providing the clients of Fannie Mae with detailed reports will be a key part of this position, and your interviewer will be looking to gauge your ability to be organized and detailed while also utilizing your critical thinking skills to provide the best reports possible. In your answer, focus on the techniques and tools you use to ensure that clients receive the most accurate and detailed reports possible. In addition, let your interviewer know that you are willing to research and learn new technologies to help onboard yourself to their team quicker.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"In my current role, I utilize the Tableau program to provide live, up-to-date information to my clients. After using a built Excel program for many years, Tableau provides beautiful and easy-to-understand reporting that my clients can take and run with to make important decisions. The connections and automation within the program have saved me time and effort, allowing me to take on a much more robust client base. If hired for this role here at Fannie Mae, I also have familiarity with SAS and Spotfire and consider myself a quick learner if I need to learn a new program."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"When I need to provide reporting to clients or my firm, I ensure that the reporting includes all key risks and valuation. Today, we, as financial analysts, have so many great tools available to us, and my current preference is a statistical program like Crystal Ball. When paired with the advanced Excel sheets that I have created, my clients have expressed how helpful they have found these insights that I can provide."
Written by Rachel Hills on September 28th, 2021
Competency
12. How do you stay on top of new trends in the housing industry?
How to Answer
With an ever-changing market like housing, the interviewer needs to know that you are up-to-date on the latest trends. This is particularly important for client-facing roles or roles that will require you to create financial models predicting the housing market. Assure the interviewer that you are well-versed in the industry and make continuous education a priority in your career.
Written by Rachel Hills on September 28th, 2021
Answer Example
"I stay on top of housing and financial services trends through various blogs, news sites, and magazines. My favorite financial news source is Forbes, and my favorite way to stay up-to-date on the housing industry is through subscriptions to National Mortgage Professional Magazine and Real Estate Magazine. I begin my workday each morning by catching up on industry-relevant news. I hope to travel to various finserv and mortgage conferences this year, too, if the opportunity arises. What opportunities do you have for continuous education at Fannie Mae?"
Written by Rachel Hills on September 28th, 2021
Competency
13. Tell me about a time where you had to analyze information in order to make a recommendation.
How to Answer
Your interviewer is looking to understand the analytical and problem-solving skills you've developed in past roles and how you would apply these skills to a new position at Fannie Mae. In your answer, focus on describing your attention to detail and sharp focus on data and statistics. Include an example that demonstrates your thought process when drawing conclusions from information. Give as much insight into your process to show you can take an analytical approach to problem-solving.
Written by Rachel Hills on September 28th, 2021
Answer Example
"I worked for a financial advisory firm last year and had a client who was looking for investment recommendations. I gathered data on the stocks they were interested in, sorting through trends and historical data to determine the most promising returns. Using in-house software, I plugged in various variables related to the client's age, target retirement, and risk tolerance, among others. I shared the various possible outcomes with my client, which allowed me to make a well-informed recommendation about the best stock options to meet his financial goals."
Written by Rachel Hills on September 28th, 2021
Competency
14. What are the top 3 skills you have acquired in your last role?
How to Answer
You have likely gained many valuable skills in your career, and your interviewer wants to hear about the skills that will be most relevant to a role at Fannie Mae. Before the interview, make a list of the best skills you have developed in your most recent role. Make sure to include both hard and soft skills, then reflect on which are most relevant to this role and provide the best examples to share with your interviewer.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"In the past few years, I was able to upgrade my education while still working full-time. The biggest skill I gained was my ability to multi-task as I worked the dual role of employee and student. I worked incredibly hard to balance these responsibilities and would bring this motivation to the role of an analyst. I also pride myself on my curiosity. Expanding the breadth of my knowledge is important to me, and I did that academically. My curiosity itself is a motivator for me, and my attitude toward learning keeps me humble and hungry. As for a third skill, I would say that I'm personable. I've always been a people person and work well with others. At my current job, I work with a team of six people. We've developed a top-notch strategy for communicating and divvying up tasks."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"In my previous role in commercial real estate, I gained important skills in negotiation, working effectively with clients, and communication. While I primarily draw on experience from this industry, I believe that each of these skills will be relevant to a role with Fannie Mae, given the position and team description that I've seen. What do you believe is the most important skill for an individual to have to be effective in this role?"
Written by Rachel Hills on September 28th, 2021
Competency
15. What experience do you have working in the mortgage market?
How to Answer
While you don't need to be an expert in the mortgage market to get a job at Fannie Mae, your answer should demonstrate an understanding of the most critical forces at play in the market. If you have experience working with mortgages, discuss with your interviewer the skills you've developed due to these experiences. Ongoing learning is crucial, too, so let your interviewer know the plan you have in place to fill any gaps in industry knowledge through relevant publications or resources.
Written by Rachel Hills on September 28th, 2021
Answer Example
"I've spent the past five years working as a real estate broker, where I've picked up extensive experience handling the logistics of real estate deals, including working with contracts and finalizing deals. Through observation and interactions with our clients, I've picked up a helpful working knowledge of real estate loans, interest rates, Fed policies, mortgage application and administration, and mortgage-backed securities. I feel confident in my ability to work with situations dealing with these topics at Fannie Mae."
Written by Rachel Hills on September 28th, 2021
Direct
16. Tell me what you know about Fannie Mae.
How to Answer
Ensure that you've done your homework beforehand and can speak confidently about Fannie Mae's history, mission, and products. Interviewers can easily see if you've done adequate research and preparation before the interview or if you know next to nothing about the company. Make sure you become familiar with Fannie Mae's website and secondary sources that provide useful information on the company. You don't need to be an expert, but you should be well-versed in Fannie Mae's products and services and what will be required of you in this role.
Written by Rachel Hills on September 28th, 2021
Answer Example
"Having worked with a team that contracted for Fannie Mae, I'm familiar with the work that you do at the Federal National Mortgage Association. I, of course, know that Fannie Mae was born out of the New Deal and that you continue to ensure the availability of the 30-year fixed mortgage, which to this day dominates the housing industry. The majority of Fannie Mae's work since the 20th century revolves around creating liquidity and making homeownership more accessible to more people. This mission is important to me personally, and I'm excited to contribute to this meaningful work. What I'm curious to learn more about from you are the most important initiatives happening now within your team at Fannie Mae, if you're able to share."
Written by Rachel Hills on September 28th, 2021
Discovery
17. If hired for this role at Fannie Mae, I want to be sure that I'm hiring a motivated individual. What motivates you in your daily work and your career?
How to Answer
To be successful at Fannie Mae, you should have strong personal motivation to succeed, and your interviewer is asking this question to see what makes you tick in your career. In your answer, you might include an anecdote that explains why you got into the finserv and the housing industry in the first place. Perhaps a previous manager has even commented on your motivation, which you should certainly include in your answer.
While great benefits and solid work-life balance may be all motivators in pursuing a career with Freddie Mac, don't focus on these aspects in your answer. Instead, focus your answer on intrinsic motivation mostly removed from external factors like money, status, or external validation.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"I find myself most motivated on the job when I am being challenged and when I can continue learning new things. From what I've learned in talking to others that currently work here at Fannie Mae, the fast-paced environment and continuous changes in the industry would keep me on my toes. This is important to me in a company because I never want to get bored in a role."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"At a young age, my father taught me to do what I love and love what I do, and I know that as I approach the middle years of my career that I made the right career choice. This industry has combined my love of helping others succeed with my passion for statistics and computers. In this role with Fannie Mae, I'll be working with your clients every day to help them achieve their goals of making homeownership a reality, and that alone is all of the reasons I need to get out of bed every morning."
Written by Rachel Hills on September 28th, 2021
Leadership
18. Here at Fannie Mae, we are expecting someone with strong leadership skills to take this role. How would you describe your management style?
How to Answer
While Fannie Mae emphasizes a collaborative work culture, it's still important for candidates to demonstrate excellent leadership potential that will set them apart from the pack. Before your interview, reflect on your leadership style and skills you have developed over the years. Regardless of which role you're applying to, your interviewer wants to hear that you have taken on leadership responsibilities in previous roles and have the capacity to grow with Fannie Mae. Your answer can touch on how these traits fit into Fannie Mae's collaboration and supportive team culture.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"My overall management style centers on building a positive team atmosphere. I believe that each person and role brings a specific skill set to the overall goals and purpose of a team. As such, I promote a team-based atmosphere by clarifying everyone's role on the team, keeping every person's objectives clear, rewarding great performers on the team, and holding people accountable for their actions. If hired for this role at Fannie Mae, you can be assured that I would bring this collaborative and team-focused leadership style to the table for each project."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"I think that it is crucial for a leader of others to be flexible in their style rather than relying on just one of the canned management styles. I want to highlight my abilities to lead as a manager who works to grow and develop my staff to help them achieve their career goals and a leader who can provide direction and authority when the time for it arises. By knowing my team well and promoting our goals, I can assign work to the right people and follow through with my team on meeting all objectives necessary."
Written by Rachel Hills on September 28th, 2021
Problem Solving
19. How many boxes of macaroni and cheese were eaten in the United States last year?
How to Answer
Questions like this are meant to test your ability to deduce an answer from a limited set of information and assumptions. You and your interviewer both know that it would be impossible for you to know or even calculate the correct answer, so your interviewer is solely looking for the factors you use to come to a logical answer. Be as detailed as possible in why you are making the assumptions when coming to a final answer.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"In knowing that the population in the United States is around 325 million people, my biggest factors in determining my answer will be that children between the ages of two and ten consume 75% of the mac and cheese each year and that the other 25% is consumed by ages ten and above. The other factor is that the kids eat one box per week and the ages over ten eat two per month. So, I'll determine that there are 80 million children between two and ten and figure that they'll eat 4.2 billion boxes. Then I'll determine that 240 million people over ten eat two per month to get 5.7 billion boxes of mac n' cheese. When added together, I'd say the final answer is right around 10 billion boxes of man n' cheese are eaten in the US each year."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"My estimate of this number would factor in the total US population over three years old, the people that eat macaroni n' cheese to be around 280 million people. Then, I'd factor that each person eats one box per week in the summer, and in other seasons they eat one per month. During the summer, the population would consume 3.4 billion boxes, and during the other three seasons, they would consume 2.5 billion between all people. This would add up to right around 6 billion boxes eaten in the United States last year."
Written by Rachel Hills on September 28th, 2021
Problem Solving
20. Give me an example of a time that you had to solve a problem without having all of the necessary information at hand to do so. How did you handle that situation?
How to Answer
For this question, your interviewer is looking to test your ability to be analytical and resourceful in a specific situation where you had to dig further to solve a problem. Before your interview, try to think of a time in the past where you encountered this specific situation and talk through it by laying out the problem and walking through the step-by-step approach you took to solve the problem. Try to be detailed as you explain how you thought the problem out and worked hard to use the resources you could to help solve the problem. Your interviewer will be relying on these fine details to truly see how you will perform on the job with Fannie Mae.
Many positions at Fannie Mae will require you to work independently without having all the details you need. Senior-level leadership isn't there to hold your hand through a project, so make sure your interviewer knows that you can do your job well, even if you're missing a few of the puzzle pieces.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"Back when I first joined my current organization, I was taking a role that had been vacant for many months, and I had to start with a backlog of work along with the regular daily activities. This customer service role included logging daily visitors and calls, and the interim rep only kept brief notes. After taking the time to walk through training and getting running on my own, I realized that the current workload wouldn't allow me to catch up on the backlog of work that had been missed. While I had ideas of how to play catch up on the work, I approached my supervisor with a few ideas, and we settled on having me log hours from home on our system as overtime to get caught up. I worked with our IT staff on getting set up on our network from home and was more than willing to help out with some extra hours."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"Working for a large financial institution, our advisory staff help cover for each other when we are on vacation, sick, or simply out of office for the day. We typically team up in groups of three to help provide coverage for each other. A couple of months ago, I fielded a call from a colleague's client while she was away on vacation and completely out of phone coverage. The client had several questions about their personal finances that I couldn't help resolve off the top of my head. I let them know that their advisor was away on vacation, but I would take the next hour to research their questions and get back to them shortly. This was an acceptable path of action to the client, and I took the time to get their questions answered quickly."
Written by Rachel Hills on September 28th, 2021
Salary
21. What are your salary expectations?
How to Answer
Ah, the dreaded salary expectations question. Interviewees often feel uncomfortable discussing compensation, worried that will give a number that's too high or too low.
Answering this question tactfully requires a fine balance of knowing your professional worth, while also understanding what Fannie Mae can realistically offer you for compensation. Rather than giving a specific number, it's best to provide a realistic range that allows room for negotiation. It's helpful to do your research beforehand using various online resources to ensure that you have a good idea of the salary range.
If you're unsure of a fair range for this position, this question is an opportunity for a discussion with the interviewer. To avoid pigeonholing yourself into a salary that's lower than what they might offer you, you can ask your interviewer if they can share the typical salary range for the role.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"I'm looking for compensation that's in line with my qualifications and experience. Given my graduate degree and six years of experience at (XYZ) company, I'm seeking compensation in the range of $75,000 - 80,000."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"Thanks for asking. I was hoping to get more information first about the salary range you're offering for this position. Would you be able to share that information with me?"
Written by Rachel Hills on September 28th, 2021
Stress
22. Think back over your career up to today and tell me about the most difficult day on the job you encountered. What made the day difficult and how did you handle that situation?
How to Answer
We've all had our share of difficult days on the job, and how we handle those days, in particular, can make or break our success at a company. Think of a particular day that demonstrates your ability to handle adversity professionally without shutting down. An important piece of your answer should be discussing what lessons you learned from that specific day moving forward that you still carry with you to this day.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"It's funny that you ask this question because I can honestly say that my worst day on the job happened just a few weeks ago. Upon arriving to work in the morning, I quickly learned that our entire network was down, and we wouldn't be able to work within our CRM or other programs that day. Many of my coworkers were visibly upset and questioning how we would be able to do our jobs that day. Rather than joining the crowd and freaking out about the situation, I huddled our group to discuss solutions to the workday. We had found out that the network likely wouldn't be fully up and running until late afternoon. While some colleagues called it quits and went home, I helped brainstorm how we could keep our phone lines open, and my boss was very grateful for my efforts that day. Looking back, what made this the most difficult for me was seeing how others responded so negatively over an issue that we had no control over."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"Early in my career, I had a day where my entire office came down with the flu, and I was left alone with the receptionist for the day. As a trained and working Financial Advisor, my colleagues handled market analysis, retirement plans, and insurance plans. At first, the receptionist and I went about our business. After being flooded with calls and in-person visits to our office, we connected again to discuss a plan moving forward. We discussed what types of calls she could handle and which ones I would handle, and she triaged from there. I contacted the clients I had scheduled that day to reschedule, and we worked well from there. If I couldn't answer a question for a client of one of my colleagues, I ensured they knew that my colleague would follow up as soon as possible. Looking back, I learned that on days where you have to break routine as we did then that it was important to make a plan as early in the day as possible."
Written by Rachel Hills on September 28th, 2021
Stress
23. What kind events cause you the most stress on the job, and how do you handle that stress?
How to Answer
Market volatility, greed, underperformance, and demanding clients can all contribute to a high-stress level within the housing and financial services industries. For this question, your interviewer is looking to gain insight into your work and management style while also making sure that you maintain your composure amidst stress. While you talk openly about what causes you stress or discomfort, make sure that you also talk through the strategies you've developed to manage stress and not let it negatively impact your work.
Written by Rachel Hills on September 28th, 2021
Answer Example
"I hold myself to high expectations, and this pressure and drive to succeed occasionally make me feel stressed out. However, I make it a priority not to let stress get in the way of doing my job well and maintaining great relationships with clients. To help alleviate any pressure, I've learned to celebrate big and small victories, rely on my teammates when needed, and manage my time well. I'm comfortable explaining market volatility to my clients and reassuring them of its inevitability when they come to me worried about market losses. I've let go of any stress caused by factors outside my locus of control, like the aforementioned market volatility, and I also look for regulatory changes that adversely affect my clients."
Written by Rachel Hills on September 28th, 2021
Teamwork
24. If you joined the team here at Fannie Mae, how would you build relationships with those that you would be working closely with?
How to Answer
For this question, your interviewer wants to hear that you'll be proactive about getting to know your colleagues and fitting into Fannie Mae's culture, which emphasizes diversity and inclusion. Use a personal approach to talk about how you have done this in the past and how you would do so if hired for this position. Discuss the importance of relationship-building and how your collaborative approach has helped you as a professional.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"From my first day on the job, I would take the time to break the ice with my colleagues by introducing myself and setting up an individual meeting with each person. In the past, I've done these meetings over lunch or in an office where I've had questions prepared for me to get to know the person both personally and professionally. I want to ask my colleagues what they expect from me and what I can expect from them. I've found that these conversations help to open up doors for working with each other moving forward."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"Being the new person on the job can be a very high anxiety time for some people, but I love the opportunity to break the ice with my coworkers by making that first contact. I think it's important to get to know each other personally because we spend so much of our lives together in the workplace, and I am a caring person who wants to know how last night's soccer game went for the kids. Beyond that first ice-breaking conversation, my work relationships are then bonded through my work ethic and helping others on my team to show that I am a true team player."
Written by Rachel Hills on September 28th, 2021
Teamwork
25. We pride ourselves on our interdepartmental teamwork here at Fannie Mae. If hired for this role, what kind of team player could we expect you to be?
How to Answer
At a large corporation like Fannie Mae, you can expect to work closely with a team within your area of expertise and liaise with other departments. Your answer highlights themes of building trust, accountability, and mutual respect within a larger team. Don't hesitate to show flexibility in your ability to both lead others and be led by others, and use examples of times that you've done both.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"My current colleagues would tell you that I'm knowledgeable in my area of expertise and use this expertise to contribute to the larger team. In addition, I'm able to communicate effectively, take direction from others, and am always willing to help out other teams or divisions when necessary. I understand that I would be working very closely with the communications staff here at Fannie Mae, which I assume would involve some degree of interdepartmental coordination. I am eager to learn about new areas outside of my expertise to develop professionally, so I'm looking forward to this collaboration."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"I prefer to work in an environment that promotes teamwork and collegiality. If I were fortunate enough to join the team here, I would love to eventually take on a leadership role on a team. In my current project manager position, I've learned to delegate work effectively and help train new employees in their roles. I can also thrive in a role where I take direction from others."
Written by Rachel Hills on September 28th, 2021
Teamwork
26. Talk to me about a challenging situation you had to handle on the job that involved another colleague. How did you handle that situation?
How to Answer
Fannie Mae's culture stresses diverse perspectives and a shared mission of making homeownership a reality for more people. Your interviewer will be looking to see that you'll fit into that culture well by being a team player with a solid attitude. At the heart of this question, your interviewer is looking to hear how you use solid interpersonal and relationship-building skills to diffuse a difficult situation with a coworker. No matter what situation you talk about, make sure to focus your answer on a positive mindset and the steps you walked through to turn a potentially hazardous situation into a good one.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"A couple of years ago, we had hired a new junior advisor on to our team, and I was tasked with being his mentor. Having mentored several other thriving Junior Advisors prior to him starting, I was excited about the opportunity. Within the first week of him being on the job, I overheard a colleague of mine talking very openly about his disdain for hiring this new advisor and witnessing him personally criticizing him in a face-to-face encounter. Immediately, I spoke to my colleague in a private office about my concern over his actions and words towards the new advisor. Having been a part of the interview process and his early mentorship, I knew he had the skills to succeed, and I reiterated that to my colleague. After agreeing to back off on any private criticizing of the new advisor and a promise to help mentor him, I learned that direct conversations are the best way to handle workplace conflicts."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"A few months ago, I approached a colleague that had missed a deadline for a big audit we were conducting, and she completely blew up at me during our conversation. At first, I was taken aback by her response because I had never witnessed that from her in many years of working together. While remaining calm, I allowed her the opportunity to vent to me, and it turns out that she was going through a lot of stressors in her personal life that was impacting her work. While keeping our project deadlines in mind, I let her know that she could bring these issues to me as both a colleague and a friend, and we could work through them together in the future. This approach is vital to any conflicts that can arise with colleagues and one I don't hesitate to take when needed."
Written by Rachel Hills on September 28th, 2021
Technical
27. What experience do you have working with mortgage-backed securities?
How to Answer
Mortgage-backed securities (MBS) are a key concept that is central to Fannie Mae's work. Regardless of which role you have applied to, make sure you have at least a basic understanding of the concept and Fannie Mae's relationship to it. MBS are assets that are secured, or backed by, home loans and other kinds of real estate loans. Fannie Mae divides mortgage-backed loans up by tranche and then sells them on the open market. You may have encountered these types of securities in previous roles, or you might not have worked with them at all. Either is OK, so long as you demonstrate that you've done your homework and can speak confidently about MBS and other industry-relevant concepts.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"In my previous role in banking, we frequently worked with mortgage-backed securities when clients took out a loan to buy a home. After administering the loan, we sold mortgage-backed securities to investors at a discounted rate. I understand that this product is central to Fannie Mae's work in securitizing mortgage loans. I'm personally fascinated by these products and am excited to bring the experience I already have in this space to Fannie Mae ."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"While I don't have any direct experience with the buying or selling of mortgage-backed securities, I've done a great deal of research on the topic and am familiar with how they generally work, given my ten years of experience in the real estate industry. With this working understanding in place, I'm looking forward to diving into this topic with direct experience at Fannie Mae."
Written by Rachel Hills on September 28th, 2021
Technical
28. At Fannie Mae, we expect our team members to put extra emphasis into the risk management aspects of their project work. How have you performed risk mitigation and risk avoidance in your previous roles?
How to Answer
The housing market is filled with risk and volatility, which Fannie Mae's employees know well. A solid understanding of the major financial crashes of the 20th and 21st centuries is expected of you. You should be well-versed in the mortgage crisis of 2007 and the housing market crash of 2008, and how these crucial events impacted Fannie Mae's subsequent government bailout and conservatorship.
On a micro level, analysts must always factor potential risks into the equation for any project they work on. To get a better idea of how you will do this if hired at Fannie Mae, your interview is giving you a chance to talk about your knowledge of risk and how you have worked with risk mitigation and risk avoidance in your previous positions. If you're new to the industry, it's important to show that you know that common risks can be systematic, operational, legal, and credit-related.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"In my current role, I focus on mitigating legal risk by working with a team of legal experts to know the laws and then develop a series of what-if questions to propose potential scenarios. Based on the what-if scenarios, we can implement specific requirements into the project to help minimize potential risk. While I'm new to the housing industry, I've done extensive research on statistical modeling and regressions that seek to mitigate risk when it comes to financing mortgages and managing mortgage-backed securities. Can you tell me more about the most common practices in risk management for this team?"
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"From an early point in my career as a business analyst, I learned that a solid analysis process is the key to reducing any risk in a project. Two areas that apply the most are scope creep and impact analysis. To reduce scope creep and avoid any risks associate with it, I ensure that all stakeholders understand the scope of the project from the start and that I check in to validate the requirements as frequently as I can."
Written by Rachel Hills on September 28th, 2021
Technical
29. In this role with Fannie Mae, we will rely on your analytical reporting skills on a regular basis. Why do you feel analytical reporting is important in the financial field?
How to Answer
Because the financial field is heavily reliant on numbers and data, analytical reporting can be a great tool to help key stakeholders make decisions that positively impact the business. In your answer, discuss the importance of utilizing data when making important decisions in the financial field. You can also include the types of analytical reporting you have done in the past that might be useful to the team at Fannie Mae.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"As a business analyst, I've always viewed data as a tool to help make the right business decisions. To make solid decisions, I ensure that my reporting is careful and well thought out. While it's easy to make decisions based on hunches or gut feelings, I strongly believe that the more data gathered to help make the decision, the better the decision ends up being in the end. What types of reporting are used most frequently in this role with Fannie Mae?"
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"With an everchanging housing market, I think it's crucial to rely on solid data and statistics to make the best decisions we can with the information that we have. A key part of making housing more accessible for everyone is ensuring that clients have the tools they need to make thoughtful, data-backed decisions about buying a home and taking out a mortgage. I hope to contribute to Fannie Mae's mission of accessibility and transparency through the skills I've gained with three years of data reporting experience."
Written by Rachel Hills on September 28th, 2021
Trust
30. What is your greatest weakness?
How to Answer
This common interview question is an opportunity to demonstrate self-insight. Give an honest answer with a real weakness you have been focusing on and what plan you've put into place to work on it. Just make sure the weakness isn't a core competency of the Fannie Mae job description. If it's an analyst role, revealing 'logical reasoning skills' as a weakness likely won't get you far. Reflect on traits you want to work on, but that won't affect overall job success.
Honesty and self-awareness are key for this question. Interviewers have heard it all and will see through phony attempts to present a trait as a weakness when it's not a weakness.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"I've been working on finding my voice when meeting with upper-level management. While I know the ideas I bring to the table are valuable, I've always been on the more introverted side and struggle to put myself out there, especially when talking to people in positions of authority. So I have been working on feeling more confident when I pitch ideas in these meetings. This has been my primary area of focus for improvement in the last few months, and one of my colleagues even recently commented that he had noticed a difference in the frequency of my contributions."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"I take a lot of pride in the work I do and often struggle to delegate tasks to other members of my team. Even though I trust my coworkers and know what fantastic work they do, I've gotten in the habit of seeing tasks through from start to finish. I got to a point where this was no longer feasible with the new responsibilities I had taken on, so I've been working on feeling more comfortable asking for help from my colleagues when I need it. While this weakness is still a work in progress for me, I've learned how important it is to communicate effectively with and rely on my team."
Written by Rachel Hills on September 28th, 2021
Trust
31. What is your greatest strength?
How to Answer
Demonstrate your self-awareness by pointing out a strength that you've honed over the years. Ideally, you'll discuss a skill that is directly relevant to the role at Fannie Mae. Having a tangible example will strengthen your answer.
Written by Rachel Hills on September 28th, 2021
1st Answer Example
"My colleagues often comment on my communication skills. They appreciate that I'm true to my word and follow up with any questions if I'm not sure about something. I'm not afraid to ask clarifying questions and discuss next steps and deadlines to make sure everyone is on the same page."
Written by Rachel Hills on September 28th, 2021
2nd Answer Example
"I have been told by previous supervisors that I take the initiative in my work. I proactively work to sort out problems when they arise and work effectively in a team when necessary to fix an issue. During an end-of-year review with my boss last year, she commented on how much she appreciates the initiative and leadership I show when a stressful situation pops up."
Written by Rachel Hills on September 28th, 2021