31 Freddie Mac Interview Questions & 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. Customer Service Questions
- 9. Direct Questions
- 10. Discovery Questions
- 11. Leadership Questions
- 12. Problem Solving Questions
- 13. Salary Questions
- 14. Stress Questions
- 15. Teamwork Questions
- 16. Technical Questions
Adaptability
1. If hired to this role here at Freddie Mac, 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 and fit in well with Freddie Mac's hardworking team. 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. While being honest about potential challenges you might encounter during your onboarding, emphasize your plan of attack for dealing with any hurdles. If you can think of an example 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 3rd, 2021
1st 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 making the leap 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 Freddie Mac. 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 3rd, 2021
2nd Answer Example
"I foresee onboarding in a completely virtual environment to be a potential hurdle in the first few weeks at Freddie Mac. As someone who values face-to-face interactions with my coworkers, I've found virtual work to be a difficult adjustment. To deal with this hurdle, I plan to set up individual calls with each team member to get to know everyone better on a personal level. Further, I hope these calls will allow me to make a plan with colleagues on how I can begin contributing to various projects right off the bat."
Written by Rachel Hills on September 3rd, 2021
Adaptability
2. If hired to this role here at Freddie Mac, 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 and fit in well with Freddie Mac's hardworking team. 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 3rd, 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 Freddie Mac. 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 3rd, 2021
Adaptability
3. How long will it take you to make a meaningful contribution to our team at Freddie Mac?
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 an enormous mortgage enterprise, Freddie Mac 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 3rd, 2021
Answer Example
"I plan to make an impact as soon as possible at Freddie Mac. 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 Freddie Mac. 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 as to whether or not 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 3rd, 2021
Ask The Interviewer
4. 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 answer, and feel free to ask any follow-up questions that you have.
Written by Rachel Hills on September 3rd, 2021
1st Answer Example
"I'm really excited about this opportunity at Freddie Mac 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 3rd, 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 Freddie Mac. 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 3rd, 2021
Behavioral
5. This position at Freddie Mac has generated a lot of interest from applicants. What do you feel is the one quality that sets you apart from others we are speaking with about this position?
How to Answer
At a household name like Freddie Mac, there are likely many qualified candidates vying for the same position that you are applying for. Therefore, you'll need to stand out by highlighting that one key quality that makes you the best person for this position. It might have to do with your educational or professional background, a personality characteristic you'll bring to the team, or another aspect of your identity that makes you unique. Remember that many candidates are hardworking, motivated, and accomplished. Really reflect on what is unique about your story or career trajectory to help you succeed in this role.
Written by Ryan Brunner on October 1st, 2021
1st Answer Example
"As I've talked about during this interview process and from what you can see on my resume, I have all of the technical skills needed to succeed in this role at Freddie Mac. What sets me apart from my competition is the motivation I feel on a personal level to contribute to Freddie Mac's mission of making homeownership a reality for more people. I grew up in low-income housing that would not have been available to my family if not for reliable and affordable loans. It would be an honor to align my personal and professional values by contributing to Freddie Mac's goal of supplying affordable mortgage funds in the US, which is why I hope to bring my skills to your team."
Written by Ryan Brunner on October 1st, 2021
2nd Answer Example
"From what I understand about this role in Client Services with Freddie Mac, my day-to-day work will include a lot of client interaction, and I truly feel like the job description was written with my skills and abilities in mind. But I also bring a crosssection of experience via my retail sales experience. Over my five years in retail, I have developed product knowledge and selling skills that would be beneficial to this role."
Written by Ryan Brunner on October 1st, 2021
Behavioral
6. 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 simply impacts how well you work with others.
Written by Rachel Hills on September 3rd, 2021
1st Answer Example
"I strive for a straightforward and concise communication style with clients and colleagues. In my previous work as a financial advisor, I focused on listening to my clients and their most pressing financial needs and goals. 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 3rd, 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 3rd, 2021
Behavioral
7. Tell me about a time when your listening skills helped you solve a problem.
How to Answer
Your interviewer is asking this question to better understand 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 3rd, 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 3rd, 2021
Behavioral
8. At Freddie Mac, 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 oftentimes be chaotic and stressful for individuals working on high-pressure deadlines. As a government-sponsored enterprise, Freddie Mac is not known for having the same notoriously demanding hours as other financial corporations. Regardless, you will still be expected to work efficiently under time constraints and stick to deadlines as an analyst at Freddie Mac.
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 3rd, 2021
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 promptly informed 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 meetings and tasks on my calendar to make this a top priority. Then I made sure I was prepared and took the hectic turnaround with a bit of humor and as a challenge."
Written by Rachel Hills on September 3rd, 2021
Behavioral
9. The day-to-day life at Freddie Mac 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 Freddie Mac 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 3rd, 2021
1st 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 Freddie Mac."
Written by Rachel Hills on September 3rd, 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 was becoming much more demanding. So much so that I had to postpone my project because I was unsure if I would be able to complete it to the best of my abilities. 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 3rd, 2021
Career Goals
10. How have you worked to develop yourself professionally throughout your career?
How to Answer
As a Fortune 500 company, Freddie Mac 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 great examples of your drive to grow professionally.
Written by Rachel Hills on September 3rd, 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 3rd, 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. 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 3rd, 2021
Communication
11. At Freddie Mac, 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 Freddie Mac 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 3rd, 2021
1st Answer Example
"As I look back on my career across various 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 absolutely comfortable in being a subject matter expert in front of these groups and would look forward to being thrown into this role here at Freddie Mac."
Written by Rachel Hills on September 3rd, 2021
2nd Answer Example
"In my current role, I work hand-in-hand with staff to walk them through reports I've created and explain the implications for their current projects. In this role, I see myself as an adviser who is there to help educate and our staff, and I love that aspect of my role. If brought aboard the team here at Freddie Mac, 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 3rd, 2021
Compatibility
12. We are looking for the most motivated individuals to join the team here at Freddie Mac. Where would you like your career to take you in the next five to ten years?
How to Answer
This common interview question put you in a tough spot where you should talk about your ultimate career goals while also balancing the needs of the position you are interviewing for and the needs of Freddie Mac. While your interviewer might be looking for a long-term fit for the position, it's OK to set your sights higher as long as your goals do not conflict with the organization's goals. In fact, some hiring managers prefer to hire motivated, career-oriented individuals who are honest about their future goals of pursuing graduate school or working their way up into a different industry after a few years at Freddie Mac. Allow for flexibility in your career intentions while also giving an answer that is true to your goals.
Written by Ryan Brunner on October 1st, 2021
1st Answer Example
"This role with Freddie Mac truly is a dream position for me at this stage in my life. As a recent graduate, I'm looking to dive into the housing market with your team here. While I'm flexible to where my career at Freddie Mac might take me and am open to taking on greater leadership with more time, I am also thinking about going to graduate school in the future. Though my timeline isn't set in stone, I plan to go to law school in the next five or ten years to become a lawyer in the fair housing space."
Written by Ryan Brunner on October 1st, 2021
2nd Answer Example
"Now that I am to the midway point of my career, I am looking for my next move to be my final move in finding my work home until I retire. As a successful Financial Advisor today, I want to continue to grow my skills in advising clients on retirement and private wealth management, and it sounds like I'll have that opportunity here at Freddie Mac. As I continue to grow in my skills and earn my credentials with you, my long-term career goal is to be in management where I could oversee the work of Junior Advisors and mentor them towards success."
Written by Ryan Brunner on October 1st, 2021
Compatibility
13. A key part of our mission at Freddie Mac 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
Freddie Mac's mission centers on making homeownership a reality for more individuals. They support 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 personal values align with Freddie Mac'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 3rd, 2021
1st Answer Example
"I don't have any direct experience working with these populations, which is actually one of the main reasons that I'm drawn to this role with Freddie Mac. 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 Freddie Mac."
Written by Rachel Hills on September 3rd, 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 personal values are aligned with my professional role, which is why I'm looking to expand my impact on these populations through this position at Freddie Mac."
Written by Rachel Hills on September 3rd, 2021
Compatibility
14. What is the most attractive thing in your eyes about this role with Freddie Mac?
How to Answer
For this question, your interviewer is looking to gain insight into what you know and like about Freddie Mac and how they will help you meet your career goals. In your answer, stay focused on aligning your values with the organization's values and demonstrate that you've done your research on Freddie Mac, the housing market, and the responsibilities of the role you are interviewing for.
Written by Ryan Brunner on October 1st, 2021
1st Answer Example
"Over the past few years, I've had an eye on pursuing a career with Freddie Mac because of its reputation for having a great company culture. In my current position as an analyst at (XYZ) company, we've partnered with Freddie Mac analysts for work on the (XYZ) project. My team and I greatly admire and enjoy working with the Freddie Mac analysts because they are motivated and easy to work with. I've had conversations with a few of them on their appreciation for your collaborative company culture and work-life balance, both of which are priorities for me in this next career step."
Written by Ryan Brunner on October 1st, 2021
2nd Answer Example
"As I enter the midway point of my career, my job search has been focused on finding an employer that I can spend the rest of my career with and someday retire from. Looking at the history, culture, and growth of Freddie Mac, this is definitely a place that I'd love to be a part of as you continue to grow and prosper into the future."
Written by Ryan Brunner on October 1st, 2021
Competency
15. 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 get a sense of the analytical and problem-solving skills you've developed in past roles and how you would apply these skills to a new role at Freddie Mac. 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 are capable of taking an analytical approach to problem-solving.
Written by Rachel Hills on September 3rd, 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 3rd, 2021
Competency
16. 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 Ryan Brunner on October 1st, 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 financial services and mortgage conferences this year, too, if the opportunity arises. What opportunities do you have for continuous education at Freddie Mac?"
Written by Ryan Brunner on October 1st, 2021
Competency
17. 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 Freddie Mac, 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 3rd, 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 Freddie Mac."
Written by Rachel Hills on September 3rd, 2021
Competency
18. 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 Freddie Mac. 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 which provide the best examples to share with your interviewer.
Written by Rachel Hills on September 3rd, 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 3rd, 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 3rd, 2021
Customer Service
19. Give an example of a time that you had to resolve a difficult situation with a client or customer. What were the keys to coming to a successful solution?
How to Answer
While not all roles with Freddie Mac will be client-facing, some will require you to interact with clients daily. Regardless of which role you're applying to, a solid understanding of customer service and professionalism towards clients is expected. A key part of Freddie Mac's mission is the importance of serving their clients and ensuring that they are happy. As such, your interviewer wants to be sure that you have the skills to resolve client issues with ease.
In your answer, let your interviewer know that you can take ownership of any situation by talking about a specific time when you diffused a difficult situation with a client. Talk about the resources you used and your interpersonal skills that helped turn a potentially bad situation into a successful one.
Written by Ryan Brunner on October 1st, 2021
1st Answer Example
"A couple of years ago, I was asked to work with a high-profile client as a portfolio advisor when he came to our firm. I was tasked with this as my CEO trusted I could handle what he felt could be a sticky situation. From my first meeting with the client, he demanded that we provide more returns than the previous firm he worked with, and he was rather rude to our front desk staff. My approach was to take the time to listen to his needs and speak to him about what our firm could provide. I laid out my experience and track record for him to help him build his trust in me. I knew that from now on, with this client, I would need to take time to walk through my decision-making processes for his investments, which he really appreciated. As of today, we are still working well together, and his wealth has continued growing."
Written by Ryan Brunner on October 1st, 2021
2nd Answer Example
"Having worked in customer service for one of the area's largest auto dealerships for the last six years, handling difficult customers was a situation I had to learn to handle pretty quickly. A few weeks ago, I covered our front desk on a Saturday afternoon when our sales staff was still open for business. I recognized the person approaching the door as a customer that had recently purchased a new vehicle. He stormed through the door, placed his keys on the counter in front of me, and said that he demanded a refund on his new purchase because the check engine light had already come on inside of the car. Knowing off the top of my head that his new vehicle was under a full warranty, I calmly let him know that his car was under warranty and that I'd have a member of our sales staff come out and take a quick look. I also let him know that our service department was not working that afternoon and, if needed, we could schedule him for a diagnostic test at his earliest convenience. After our salesman went out to take a quick look and not seeing anything obvious, we ended up giving him a loaner vehicle so his new car could be taken care of come Monday morning. He ended up leaving pretty happy that day and I know that my patience and active listening were critical in this result."
Written by Ryan Brunner on October 1st, 2021
Customer Service
20. If you were having an interaction with a client here at Freddie Mac, and you weren't able to answer their question or solve their problem on your own, how would you handle that situation?
How to Answer
In a client-facing role with Freddie Mac, you may be asked serious financial or market-related questions that either you don't know or aren't qualified to answer. In those situations, you will be expected to explain to the customer how that question will be answered and then deliver a timeline on when it can be answered. In the end, it's your job to ease the client's mind with a clear path forward.
Written by Ryan Brunner on October 1st, 2021
1st Answer Example
"In my current role in customer service with Metropolis' largest automotive dealership, I frequently get asked questions that our sales, finance, and service staff have to give the final stamp of approval on in answering customers' questions. In these situations, I provide the customer with information that I know while also ensuring that the sales, finance, or service staff will provide the final answer. Then, I work quickly to get them to the right person."
Written by Ryan Brunner on October 1st, 2021
2nd Answer Example
"In a situation where I didn't know an answer, I would ensure the client that we have the right staff in place that would be able to help them quickly and efficiently. I would communicate to the customer what the next step would be, whether that's me putting them directly in contact with someone or taking their contact information and having someone get back to them. In the end, it's crucial to communicate the right course of action and a timeline, and then stick to it."
Written by Rachel Hills on September 3rd, 2021
Customer Service
21. The clients of a financial firm like Freddie Mac can display a range of emotions when they work with our client services team. How would you handle a situation where a client was very angry?
How to Answer
Whether due to market volatility or a client feeling like they were ill-advised by an advisor, your job in a client-facing role will, at some point or another, lead you to have to deal with an irate client. Your interviewer will be looking to hear that you remain calm and focused on finding a resolution for the customer. If possible, use a specific example of when you had to do exactly this, emphasizing what you did to make the situation right for the client.
Written by Ryan Brunner on October 1st, 2021
1st Answer Example
"As you can see from my resume, I've spent the last three years in customer service relations for a large insurance company. As you can imagine, a large majority of my customer interactions were with upset customers. I've been called names that I can't repeat here in this interview, and my key to working through these situations was to remain calm and not take things personally. Like the financial world, the insurance business is a life-altering experience, and a loss or damage to an item is very stressful. I try to put myself in the customer's shoes, see the situation from their perspective and do my best to ease the pressure. In this role with Freddie Mac, these same skills would be vital for me to find solutions or the right person to talk to if needed."
Written by Ryan Brunner on October 1st, 2021
2nd Answer Example
"First and foremost, an active listening approach is the first step to lowering the tension from an angry customer. A couple of months ago, we had an irate customer come onsite to complain about a defective product that cut his hand pretty badly. The customer came onsite to complain even before receiving emergency care, which was apparent that he needed. First, I let him release his anger, and it was not a pretty sight. Then I calmly repeated back what he had said and then explained what our policy allowed me to do at that time. Looking back, my sincere approach and calm demeanor helped calm him down, and later that day, my manager had a formal complaint sent to the manufacturer, and we were assured that they'd be in contact with the customer."
Written by Ryan Brunner on October 1st, 2021
Direct
22. Tell me what you know about Freddie Mac.
How to Answer
Ensure that you've done your homework beforehand and can speak confidently about Freddie Mac'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 Freddie Mac'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 Freddie Mac's products and services and what will be required of you in this role.
Written by Rachel Hills on September 3rd, 2021
Answer Example
"Having worked with a team that contracted for Freddie Mac, I'm familiar with the work that you do at the Federal Home Loan Mortgage Corporation. I understand that Freddie Mac was created in 1970, a few decades after Fannie Mae, to expand the secondary mortgage market. I am, of course, well-versed in the process of buying mortgages from secondary sources, pooling mortgage-backed securities, and then selling these securities on the open market. In doing so, you promote stability and liquidity in the housing market and make homeownership more accessible to more people. This mission is important to me on a personal level, 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 Freddie Mac, if you're able to share."
Written by Rachel Hills on September 3rd, 2021
Discovery
23. If hired for this role at Freddie Mac, 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 Freddie Mac, 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 financial services and 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. Rather, focus your answer on intrinsic motivation mostly removed from external factors like money, status, or external validation.
Written by Ryan Brunner on October 1st, 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 Freddie Mac, 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 Ryan Brunner on October 1st, 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 Freddie Mac, 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 reason I need to get out of bed every morning."
Written by Ryan Brunner on October 1st, 2021
Leadership
24. Here at Freddie Mac, we are expecting someone with strong leadership skills to take on this role. How would you describe your management style?
How to Answer
While Freddie Mac emphasizes a collaborative work culture, it's still important for candidates to demonstrate great leadership potential that will set them apart from the pack. Prior to 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 Freddie Mac. Your answer can touch on how these traits would fit into Freddie Mac's culture of collaboration and supportive teams.
Written by Rachel Hills on September 3rd, 2021
1st Answer Example
"My overall management style centers on building a positive team atmosphere. I'm a firm believer 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 Freddie Mac, 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 3rd, 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'd like 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 arises. By knowing my team well and promoting our goals, I have the ability to assign work to the right people and follow through with my team to meet all necessary objectives."
Written by Rachel Hills on September 3rd, 2021
Problem Solving
25. 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. 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 Freddie Mac.
Many positions at Freddie Mac 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 Ryan Brunner on October 1st, 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 Ryan Brunner on October 1st, 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 a very acceptable path of action to the client, and I took the time to get their questions answered quickly."
Written by Ryan Brunner on October 1st, 2021
Problem Solving
26. 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 that you are when coming to a final answer.
Written by Ryan Brunner on October 1st, 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 Ryan Brunner on October 1st, 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 around 6 billion boxes eaten in the United States last year."
Written by Ryan Brunner on October 1st, 2021
Salary
27. 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 Freddie Mac 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 3rd, 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 3rd, 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 3rd, 2021
Stress
28. 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 tough clients can all contribute to high stress 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 Ryan Brunner on October 1st, 2021
Answer Example
"I hold myself to high expectations, and this pressure and drive to succeed occasionally make me feel stressed out. However, I prioritize not letting 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 large 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 Ryan Brunner on October 1st, 2021
Teamwork
29. We pride ourselves on our interdepartmental teamwork here at Freddie Mac. If hired for this role, what kind of team player could we expect you to be?
How to Answer
At a large corporation like Freddie Mac, 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 3rd, 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 Freddie Mac, 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 3rd, 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 3rd, 2021
Teamwork
30. 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
Freddie Mac'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 Ryan Brunner on October 1st, 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 the hire of 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 Ryan Brunner on October 1st, 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 Ryan Brunner on October 1st, 2021
Technical
31. 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 Freddie Mac's work. Regardless of which role you have applied to, make sure you have at least a basic understanding of the concept and Freddie Mac's relationship to it. MBS are assets that are secured, or backed by, home loans and other kinds of real estate loans. Freddie Mac 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 3rd, 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 Freddie Mac's work in securing mortgage loans. I'm personally fascinated by these models and am excited to bring the experience I already have in this space to Freddie Mac."
Written by Rachel Hills on September 3rd, 2021
2nd Answer Example
"While I don't have any direct experience with the buying or selling of mortgage-backed securities, but given my ten years in the real estate industry and my own personal curiosity, I've done a great deal of research on the topic and am familiar with how they generally work. But I'm looking forward to diving into this topic with direct experience at Freddie Mac."
Written by Rachel Hills on September 3rd, 2021