Donna Corley heads a team of 450 employees that is responsible for analyzing and managing the risks that impact Freddie Mac’s single-family business, which included financing of 745,000 single-family home purchases and 937,000 single-family refinances in 2016.
Freddie Mac Loan Advisor Suite launched in July 2016 and its integration with internal risk management systems allows Freddie Mac to automatically assess collateral, and later this year, to automatically validate borrowers’ income and assets. Freddie Mac has put its risk assessment tools in customers’ hands, taking the expertise from its credit risk managers, the results from its models and the data from its systems and married them together, creating efficiencies for lenders and borrowers.
As part of Freddie Mac’s transformation, Corley has been instrumental in creating a culture that fosters innovation in risk management. That includes adopting state-of-the-art tools, leveraging Freddie Mac’s data and expertise in new ways, and updating processes to save money and improve customer experience.
Customers also benefit from Corley’s efforts to modernize the guidance that Freddie Mac gives to the industry around certain credit policies by raising the bar in some areas and retiring out-dated practices in other areas.
Freddie Mac’s Single-Family business showcases these changes as funding of mortgages to first-time homebuyers is at a 10-year high, including nearly 34,000 Home Possible mortgages in 2016.
“Corley has a high-energy, positive attitude that inspires people to do their best; that includes her team and the numerous women she has mentored over her 20+ year career,” her nominator wrote.