NVSBE 2017: Brian Feeley - Doing Business with Fannie Mae
Um. All. Right thank you for doing introductions telling, me a little about yourself now I'd like to tell you a little bit about, Fannie Mae um. So. What is Fannie Mae we're not a bank all, right we've been around for a long time the. CNBC truck. Was parked out in front of our headquarters about five years ago every day for, months and you heard nothing but, bad about us all, right didn't. Explain what we did but. It sounded, bad all, right the, bottom line is we provide a liquidity in the mortgage mortgage, market, our. Customers. Are the banks, and the, FinTech firms, that. Issue. Mortgages. To Americans. All right we, are we secure, ties those things that take advantage of the capital, markets to. Bring. Back liquidity, to those those, firms that, give you mortgages, so we. We keep we. Keep the system working by. Funding it in adding, liquidity, all right. We. Are very much in a phase right now or we're true where. We. Have we're. Not a retail shop there are thousand, major providers. Of mortgages, and then a. More. And a few more thousand, very, small operations. Very, small supply, base or. Customer. Base not. A big footprint, we do not have branches, we, have properties. In the Washington, area and the Dallas, area that's, it all, right. Scale. Wise we're. Not a big firm. We're. About 6,000, employees. All. Right our. Balance, sheet is larger. Than most countries in the world um. Because. We have we've, insured all the mortgages and we carried them on our books all. Right so. We. That's, what we are it it's it, is the, Freddie Mac is inequivalent, firm the. Federal home Warren buckboard, mortgage, banks or provides. Similar but slightly different services. And the the core function. Is liquidity. And insurance, all. Right so if you were to look at us and say what are they to. A very real degree, you, could think of us as an insurance company all. Right and that's, not on the slide. Okay. Um. We. Are not an agency and I've, been here today. We. Are a government-sponsored. Enterprise. Which means we have a charter from Congress. We. Are very. Much managed by our regulator at this point but, in the end, we. Don't have. We. Don't use the far. We. We don't have set asides, all. Right what. We have actually, is our own law, it's. Great to have your own law, and. That law says that we have to consider and publish and we will always do that all. Right and, not. To brag, but. We, have excellent, developed diversity. Numbers across, the, the. Various groups excellent. Meaning we, just built on it for years we're not terribly strong in veterans and that's why we're here all. Right. But, we, have to consider to, the maximum, extent possible and we. Use our processes, to do that we also do some minor bits, of gore some some. Publication. It. But, to. Be to use an example if if. We're bringing, in Salesforce, the. Platform, we will not publish that but, we do publish, staff. Walk opportunities, when we refresh, our supply base we. Do, publish, facilities. Things. But. There are certain areas like you said a large-scale. CRMs. We. Don't publish but, you can see, that stuff on Fannie Mae calm. But. In the end what, we'd ask you to do out, of this is to register as a potential, supplier so. That we know about you all, right and you, can do that through Fannie Mae com. Okay. Doing business with it's. The about us page on, Fannie Mae com. Actually, I have the list of goods and services but again, I would say. I. Would say that that think was the financial services for arm think of us almost as an insurance company do. Not think we have a big physical footprint. But. Understand. That right now and for the next few years we, are rebuilding. Our technology, stack and, we. Are for, a firm our sard size a, very.
Large. Consumer, of. Integration. Services, and in technology space. We. Are going through a lot of cultural change in. The back all. Right. And so we are consuming, a good deal of advisory, services, in, in the, way of work how to do things how to deliver, stuff how, to work better as an organization, in the facility, space we're. Getting. Out of all our o properties, and we, were, about to send the CEO, and a hard hat to be the first person in the new building in Midtown, the old Washington Post building it's, a property so we. Are we've. Done our major furniture, buys unfortunately. But. Please. Good. Furniture. Organizations. Are hard to find do register. Because, eventually, they'll get around to the office space that procurement. Lives in and maybe you improve that a little bit but. That'll be a few years out um but. So in terms of where we are in buying cycle the the, purchasing, cycle right now is heavily. On. Professional. Services, in delivery, of iit, delivery, and by IT delivery, I define it as design. Development. And testing of ward. Systems, alright um, we. Do we. Are we. Have a very small supply base in that very small relatively, um. We. Have. Less. Than 10 major integrators, that we use for the vast majority of our major projects, and we, have about 12 staff log firms that we use. Advisor. On the advisory side of the house tends to be a little more boutique II if. That's a word um and. Then. We use the large advisory, firms and in the large, folks that, you know they. Don't send your rate card they send you a flow chart types, um. Alright, so with, the effect that we have a small supply base. What, does that mean is there an opportunity for access success these. These two examples I've been, involved with personally. When. We when we were. Going to buy a good, deal of hardware, as we reconfigured. Our new space, our. New building, space we were able to use a value-added, reseller. Model. To, deliver. A great deal of. Spend. To. A. Minority. Bar, who. Has a booth out here by the way um and. We. Did, small and they, grew and then they were available, for what, would be sure, they would even consider large opportunities. You. Know I would say this instance. - I, think. The thing to remember with us is. We. Do have a small number of professional service providers. Those. Professional, services providers are not required. We. Do not have targets, all right but. We do have expectations, and we do have alignment on that and in our in our integrators, have been successful. In delivering what. We would call second, tier which is diverse suppliers. As, part. Of the overall delivery model, for our large, technology. Stack. Rejuvenation. For lack of a better word so, we. Are. We. Find ways. We. Would love to find ways for. You. Guys for the veteran community. It's. Not, there's. No set asides and it takes some real work all right um. And. It's it's, you've got to sell the value and there. Has to be there has to be a need. All. Right so this is the laundry list of the things that we generally buy all. Right so. Let's find the stuff. Marketing. Communications. Professor. Okay there is benefits. Legal, services staff fog. With. And, I would put, and I would put in their consulting, services I would say advisory, services, that gets your HR stuff and a. Lot of your compliance, stuff, technically. Speaking mind you um. So. Those, things are routinely, and regularly by we organized, by categories. So. My team handles the services, and corporates, or professional, services corporate services I used to have and. The technology, till somebody figured out that was a bad idea um. But. And, then I have a colleague that handles REO now, REO, for. Those of you. Real. Estate owned. It's. So, we. Guarantee. Mortgages. In during. The foreclosure crisis. If if. A mortgage stopped paying and the bank foreclosed, we, paid them we paid the bank for the for the for the mortgage and we took over the property so, we spent a good deal of time and money. Getting. Those. Those properties back into into the marketplace which is done the, the, our our our, foreclosure. Rates are back, within, the historic norms thank goodness for everybody um so.
Not, A lot of activity there, the. The activity, is pretty. Much in the advisory of consulting, an IT delivery, world at this point all, right. So. I would say something about the marketing. Marc coms um. We. Are trying, to actually do kind, of a freelance model on on creative. So. If you're in the video production world, or, your graphic, designer. We. Are building a pool of individual. They can be small companies, but it really is going to be, kind. Of a freelance model where we have a graphic. Design that we need done and we go to one of our freelance, pool and they bill. It and they get paid for that particular, item it's, not like it's, not like engaging. For, time. And materials engagement, or a fixed. Price consulting, engagement, so, if you have if, you have folks that are in the ker in the creative, space have them register. We. May there, may be opportunities small, scale one-off. Completely. Freelance, model but I think it might, be a growth opportunity for, poked folks in the creative world. Okay. Contact. Information. We. Have a diversity team and. You, can tell by my my. Particular. Spent, on this conversation I'm not one of them um. III. Do. Sourcing. And contracting, that's my world oh but, these are these your points of contact do. Register it is worth your while, for. Instance in staff log, I will likely. Be going to market next year I will. Use that database, I will scrub that database we will look for opportunities, for diversity, within that database, make. Sure it's searchable, in plain, language. Searchable. Words use. IT. Delivery. Use. IT deliver just that's a hint um, but. Anybody, else if you're registering, please use keywords. Abduct. Make. It very simple so, it can be searched if you do furniture, make sure the word furnitures, there alright. Ai-ai-ai-aight. Love. People, describe their companies and then you still don't know what they do all right use, the searchable words, I, swear, I've read. The Accenture. 10k, now four years and I, still can't tell you what they do all. Right and, there are major provider but not from their 10k can I figure out what they do um. All. Right so that's, I think the punchline is please. Register please. Take a look at the sheet we. Want to consider we, want to grow in in, the veterans space I'm a veteran myself um. And. It. Matters, to us I got a, teammate. That just came on board that's really driving, this really, effectively, you've set up a veteran's. Employee. Group, turns. Out that several. Executives, didn't, have it on the bio I can't believe it um. Don't. Quote me in then turn off the video um. It's. So I think, they're I think there's an increased sensitivity we, want to improve our consideration. And in participation, of veteran community, so thank you for, listening. To my ramblings, I'm, open for questions. Areas. Very. Good, question No let's just do a little definitional. Work in the, in the staff augmentation world. We. Have a third, party that runs and managed services. Process. For us uses. A TMS tool alright, we, the, suppliers, are ours the. Managed, services provider, does. The back-office. Involved. In in, managing. A staff log process, but. The relationships, the suppliers they.
It's. With Fannie Mae we hold the contract, which is not always common in the MSP world all right it is a vendor blind model, all. Right so. Manager. X does. Not know. Where. These resources came from he just knows these resources, are qualified, to his requirements his or her requirements and. That's. How the deals done now I'm consulting that's, not the case so the vast majority of integration, that we're doing IT, delivery, is with, consulting, firms, we, are still but. But. In the in the staff oddworld when, you're engaging a resource you don't know what firm it is we just have a preferred, set of suppliers that plug. Into that our system and we use. The. Biggest opportunity. Is within subcontracting. Within the meet we use and even. On the staff so accented, that the tech systems the copy gains names you would know all right those. Are the folks we use they, sub a lot it's, skill, driven, in the staff log world right think. Financial, services, that's. What we're buying all. Right but, Java is everywhere, right. Next. Question sir. Julis the opportunities, on the website or contact the people that are registered, good, question good question alright so we. Do publish. But. It is not all that extensive. We, so. We publish in areas where. We think we will be effective, so, in. In, the like I said when we go to market and staff log that'll be published if. If. We. When we did the phone we did the furniture buys we published that but. When. We decided on a CRM, the. Major, providers. Are not the. VARs don't have to play there right. We. Didn't we, just did their rule we, have guidelines who follow we we, published, when we think it's going to be effective right. Not. So much well, actually. Yes. But the size is so tiny that it doesn't it's not material, it's really the, issue is the category, and whether, the marketplace, we. Think will be effective in the marketplace, by, reaching. Out if. There. Are three providers of a CRM, tool that's that are credible there's, no need right. You. Got a question, okay. Are. We done yeah. Okay. No drinks are out drinks, it behind us now these will be quick ensure so. When you say, does. That mean. On the website so. This is hey we're looking for write, that. It's, going to say that within 60 days Fannie, Mae will likely release, an RFP, for the following please, express your interest there, will have two or three qualifying, questions that you can don't do in weston again. Oh. I'm. Sorry so. It's. Just, an. Application of ASP, that. Where, we where, all the information on the one on the suppliers is maintained, so if, you're a member of our preferred, vendor groups and you we, put out a requisition, you, would get it and then you would bid on that requisition, within a tool it's just a portal sure the, third party that you use yes company was that um it. Is a major provider so, just AG, is. What. Can we turn off my ear. All. Right so we're, organized commercially, we're organized, in categories and, basically you we showed you a list of those yeah I. Particulars. This corporate services think think of them as things like travel and such I have a colleague, that handles facilities, I have a colleague that handles, our we go. Check. Out you had to get technology they got smart and give it to somebody else oh and, by technology, I'm just hardware software data. But. The the the. Perfect most the folks here are in the Advisory world or in the IT delivery, world and that's MySpace, and there's. No it's. Really so. Yeah. Any other questions, yeah. What, would what areas you. I'm. Sorry a. Colleague. Of mine there are actually two could wanted the does REO out of Dallas in. Facilities. Colleague, that works, out of Washington. Are, there particularly no, but my suggestion is to register in. Emphasizing, the facilities peace all right demand, on the re re outside continues, to shrink because. Just. Hopefully. It continues to shrink um. Just. Because where we are in our cycle but, facilities. Were. Primarily, in the Washington, area we do have a small office in, our. Small work office. In Dallas and that's that's it for our facilities, footprint, but we. Do buy we've. Done a major, series of buys because we're changing, our office, footprint. But. That's still an active space for us.
Any. Other questions. All. Right you guys have a good one appreciate, it. You.