Fannie Mae

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Fannie Mae Reviews

Updated August 19, 2014
Updated August 19, 2014
449 Reviews

3.3
449 Reviews
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Fannie Mae CEO Tim Mayopoulos
Tim Mayopoulos
103 Ratings

Review Highlights

Pros
  • If you go in with your eyes open, it can be a stable environment with good work/life balance (in 72 reviews)

  • great benefits and flex hours; great for learning all aspects of housing market (in 36 reviews)


Cons
  • Change is bad to senior management - technology used to be empowered to provide value to the business (in 17 reviews)

  • Petty management, lots of rot in middle management, corporate culture still very old-school (in 11 reviews)

More Highlights

102 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Get ready for a bumpy ride....

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Washington, DC
    Current Employee - Anonymous Employee in Washington, DC

    Pros

    Compensation and benefits package is very competitive especially 401K employer contributions. Good place for recent college grads and young professionals

    Cons

    Mixed messages from senior-level leadership; Management is not transparent; If you're not part of the "in" crowd, it's difficult to navigate the environment; diversity of thought is not encouraged

    Advice to ManagementAdvice

    Be upfront with employees; Look out for the employees and not just yourselves

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2.  

    It was a good experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Operations and Technology Associate  in  Washington, DC
    Current Employee - Operations and Technology Associate in Washington, DC

    Pros

    Got to learn a lot

    Cons

    Had a bit of free time

    Advice to ManagementAdvice

    Work life balance is good

    Recommends
    Neutral Outlook
    Approves of CEO
  3.  

    Great people, bad management.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - IAM Analyst  in  Reston, VA
    Current Employee - IAM Analyst in Reston, VA

    Pros

    Very laid back work and lots of down time. They purposely over hire to keep the workload down. The positive of this is you have a lot of free time. The down side is you become just a number.

    Cons

    Consulting/contracting is pointless here. Keep your resume out there if you are one with this group. They have an extremely high turn-around and will replace you with a completely ignorant/new consultant/contractor when your contract expires.

    Advice to ManagementAdvice

    As a team member, I led a department with productively efficient results. Management kept claiming we needed more and more staff. The problem I had was that only two of the consultants hired after me were actually qualified for a tech position. This is only 2 out of 12 hires. Then at the whim of my department's supervisor I showed why we didn't require so many additional employees (he asked for proof). So a few days later, after I caught up on my current project, I decided to enter the main queue. We had 5 queues to take from, and we had 14 people hired to all worked out of just one of these 5. I went in and cleared out 95% of this queue within 2-3 hours (this equates to 3-4 days worth of work). Talk about inefficiency. The only thing I'm slightly bitter about was about 9 months later I was supposed to be hired into this department as a full-time employee but because of management changes including 3 different director changes I was let go and replaced by another 4 new hires and the area I specialized in was dropped due to it being too confusing for the rest of the team members to manage (Unix systems through PuTTY).

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5.  

    Highly Political

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    good pay, good benefits, somewhat flexible. Helping to bring the economy back on its feet. Verbal recognitions.

    Cons

    inefficiencies and bottlenecks everywhere. No ownership. Everything is directed by FHFA. Lots of changes in the company, not sure if it will be around for long. Highly political environment. No upward mobility. Promotions are not performance based. It's all about playing the game here.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  6.  

    Experience Reverse Diversity

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Great pay.
    Can work from home.

    Cons

    This place will be the end of your technical career.
    Company fails miserably on the diversity model. This is a major source of a failure to innovate.
    Company has built lots of silos that make success very difficult.
    Silos are so far behind in technology and refuse to change when suggestions are made outside of them.

    Advice to ManagementAdvice

    Try hiring people from diverse backgrounds. Fannies lack of diversity smells of racism.
    Dump the enterprise shared services group. This is just an obstacle maker. Tasks that take most companies minutes, take weeks here.
    Most people with leadership skills don't move up, but leave.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7.  

    Disappointing yet enlightening at why we have such problems in this industry.

    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Dallas, TX
    Former Employee - Anonymous Employee in Dallas, TX

    Pros

    As always, the people I worked with are great folks. I miss them a lot but had to move on to maintain my sanity.

    Cons

    They do one thing well: loan evaluation and processing. Everything else--all their supporting services--are either run by people who were on the mortgage side of things or were hired by mortgage people who do not know how to hire for supporting services. As an employee, if your expertise is in your career area rather than mortgages, your educated suggestions are not valued--much like it might be to work in a law firm in IT, I imagine, except that loan processors don't get paid as well. The company culture was more like a high school than a business. I observed favoritism, territorialism, disrespect, and misplaced priorities and heard about abuse of power. Oh--high security. Security guards at every door. They walk the floor checking everyone's laptops to make sure they are cable-locked. You get in big trouble if they are not locked in place. If only they paid as much attention to their non-loan related business processes as they do to security! There are a couple of wicked-smart people who still work there, and some of them are dear friends, but I don't understand why they are still there. The place needs a top-to-bottom overhaul.

    Advice to ManagementAdvice

    1. Hire someone at the top of their game to head up IT who will manage software development properly. 2. The mortgage side (the "business side") *cannot* have the final say on every decision. It leads to corrupt thinking--no, not criminally corrupt thinking--day-to-day business practices depend on relationships and being able to negotiate design decisions, schedules, deliverables, quality, etc. on a reasonably level playing field. The biz side knows they will win every dispute, so it makes for bad negotiations and worse decisions. They do not respect the expertise of the other party.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8.  

    it is rough

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Manager  in  Reston, VA
    Former Employee - Manager in Reston, VA

    Pros

    The employees are great, they are friendly and willing to help accomplish the goals.

    Cons

    Sr management is really messed up. They no longer value employees, VPs and above are just about their bonuses. They have trashed the company and constantly are working on ways to strip the company of any value. Most of the company has turned over in the last 5-8 years. Sr Executives have come from NY where it is a cut throat culture, and in turn brought that to Washington DC. Of course, they cut and run as soon as they find another post back in NY. Most positions are hired through the hiring managers buddy network, with little concern of talents.

    Advice to ManagementAdvice

    While you say you are doing right for the company reality is you are destroying the company. The values and atmosphere from years past, have been destroyed by a bunch of Executives, that are motivated by dollars and controlling a multi trillion dollar enterprise.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    Welcome to Little India

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Project Manager II
    Former Employee - Project Manager II

    Pros

    Nice people to work with.
    Good work life balance. It's a 9-5 shop

    Cons

    It's a big bank. Sometime they thing they are an IT company.
    Only good if your an employee and not a contractor
    To get anything done you have to go through several layers of approval.
    Not a place to be if your looking for a challenging fast pace environment.
    Most of the PM's are just paper pushers and collecting documentation. Real work is managed by Dev Manager

    Advice to ManagementAdvice

    Cut the layers out. Way too many managers.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Success is dependent on favoritism and connections, not skills and capabilities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Project Manager  in  Washington, DC
    Current Employee - Project Manager in Washington, DC

    Pros

    Good work/life balance and salary. Not required to work every weekend.

    Cons

    Long-term prospects of firm are uncertain with all the potential regulatory changes to dissolve it.
    Company values are in the toilet as HR and Legal turn a blind eye to unethical practices in hiring, firing, promotions and demotions. The firm is not held to corporate nor government personnel standards.

    Advice to ManagementAdvice

    Clean up the 'old boys network' corporate culture and ensure that people are placed in jobs in which they have actual job qualifications and experience. Stop the kickbacks to senior executives for hiring contractors.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11.  

    management is does not care about employees only numbers and not making them look bad

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Credit Risk Analyst II  in  Dallas, TX
    Former Employee - Credit Risk Analyst II in Dallas, TX

    Pros

    great benefits and flex hours; great for learning all aspects of housing market

    Cons

    revolving door for employees; sweat shop and corporate bullies. Will not promote qualified employees only friends. Low moral

    Advice to ManagementAdvice

    management makes unrealistic demands on employees; management needs to be educated in time management. They do not know how long it takes to complete a task therefore, make unreasonable quotas.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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