Freddie Mac

  www.freddiemac.com
  www.freddiemac.com

Freddie Mac Reviews

Updated September 23, 2014
Updated September 23, 2014
368 Reviews
3.3
368 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Freddie Mac CEO Donald H. Layton
Donald H. Layton
101 Ratings

Review Highlights

Pros
  • Freddie continues to offer a favorable work/life balance environment (in 61 reviews)

  • Great benefits but work-life balance depends on the area you work in (in 31 reviews)


Cons
  • Company is currently under conservatorship and company future is uncertain (in 12 reviews)

  • Senior management is always changing and the room for growth seems to be diminishing (in 23 reviews)

More Highlights

31 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Waste of time/money/space/sanity

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Collateral Policy/Single Family Credit Risk in McLean, VA
    Former Employee - Collateral Policy/Single Family Credit Risk in McLean, VA

    I worked at Freddie Mac as a contractor (less than an year)

    Pros

    Cafeteria food was delicious. Neat escalators. Some employees were very nice and helpful.

    Cons

    Terrible direct managers. Leadership was never seen or heard from. Impossible to communicate ideas and/or results to anyone in managerial positions. No positive/negative feedback from manager throughout my tenure.

    Advice to ManagementAdvice

    Cultivate and actually listen to workers with smart ideas and actually remember them instead of assigning work that has no bearing on quality. Provide some type of feedback each week so workers know if the work they are doing is productive and vice-versa.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  2. 2 people found this helpful  

    Freddie Mac is a very toxic place to work.

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

    I worked at Freddie Mac full-time (more than 3 years)

    Pros

    There are a few good managers that try to make a difference.

    Cons

    The bad layers and directors outweigh the good ones... No real advocate for employees. They don't follow industry project methodologies. Worst working experience I ever had!

    Advice to ManagementAdvice

    The govt needs to clean house..starting at the top!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Freddie Mac operations are below part.

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

    I worked at Freddie Mac full-time (more than 5 years)

    Pros

    Good benefits, but that's it.

    Cons

    Culture does not promote progressive and independent thinking. Group-think, drone-like performance throughout organization. All are unsure of themselves. Great deal of jockeying for political advantage.

    Advice to ManagementAdvice

    Galvanize your workforce.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
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  5. 2 people found this helpful  

    experinces with Freddie Mac

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

    I worked at Freddie Mac full-time (more than 10 years)

    Pros

    no personal growth, training is good, but you cant use alot of it at freddie mac

    Cons

    some are lazy professionals, while some are hard working and very helpful

    Advice to ManagementAdvice

    look at the quality of the people you hire

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  6. 3 people found this helpful  

    Slow Highway to Hell

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

    I have been working at Freddie Mac full-time (more than 8 years)

    Pros

    Excellent Cafeteria
    Some groups have flexible work options including work from home
    Covered parking

    Cons

    IT has been converted to bodyshop of H1Bs and Tata and WiPro and InfoSys.
    Anyone over 40 is getting fired. Used to be layoffs with severance, no more. Instead of one large layoff they are implementing 5 and 10 person firings/layoffs here and there in different departments continuously.

    Advice to ManagementAdvice

    Make the management actually live in the region. All the senior executives live somewhere else. Many from nyc. No loyalty or trust. Wall street still owns the GSEs.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7.  

    Freddie was a lot like hell

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

    I worked at Freddie Mac full-time (more than 5 years)

    Pros

    Nice buildings, good food, good IT systems

    Cons

    Horrible people, terrible corporate culture, salaries are low compared to comps. Management is outright disrespectful towards employees.

    Advice to ManagementAdvice

    Company is beyond advice.

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

    Eeek harsh cold lines between CW's and FTE's

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Settlement Specialist in Tysons Corner, VA
    Former Employee - Settlement Specialist in Tysons Corner, VA

    I worked at Freddie Mac as a contractor (less than an year)

    Pros

    Well, it certainly was a paycheck.

    Cons

    Writing is on the wall for this GSE, steadily decreasing volume, no one plays nice in the sand box.

    Advice to ManagementAdvice

    CW's are people too. Some of us have high degrees, and great past experiences. Maybe think about letting us use the front door and/or share the same water fountains.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  9.  

    Contractors stay away

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

    I have been working at Freddie Mac as a contractor (less than an year)

    Pros

    There are no pros to report about this employer

    Cons

    Warning to All. Do not work for this company. This is the worst place that I have worked as a contractor. The working environment for a contract worker is below standards As a contract worker you are not involved in any team meetings that relates to your job. Nor are you able to give feedback about your day to day job duties.. Management has absolutely no communication with their contract workers. Due to the inadequate computer system there is a problem daily with the work flow . The management structure allows the contract workers to do all or most of the day to day work while the staff does very little. The objective of the company is to use contract workers for as along as they can and then let you go and make pathetic excuses as to why they had to get rid of you. If you are looking for great pay, great working environment, and growth this is NOT the place for you.

    Advice to ManagementAdvice

    Communicate to your team which includes your contract workers. Stop treating your contract workers like outsiders. They are also apart of your staff

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Contingent Workers are mistreated & alienated in the Processor Dept off of Windy Hill in ATL

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mortgage Processor in Atlanta, GA
    Former Employee - Mortgage Processor in Atlanta, GA

    I worked at Freddie Mac as a contractor (less than an year)

    Pros

    There are two that train each have a strength in different areas.

    Cons

    There is no such thing as a team in this office if your a contingent worker, you are not allowed to go to the company birthday celebrations, holiday parties, volunteer for anything, you are not allowed to talk with your employers such as the permanent staff. You can not attend meetings etc. The manager has the permanent staff of three making decisions based on their personal liking of the contingent worker rather than the work ethics. The manager is hardly there to supervise allowing his staff to make a judgement. This department has a turn over in their contingent workers. You have a lot of gossip amongst the staff w/ the other underwriting staff. Promises to hire and lies made to cover up the lie in hiring you. You are never given recognition if you are doing well rather you are only told when you are wrong. There is no flexibility etc. You can be the greatest and they will make you seem less than to mock you. There is no increase nor set contract. Instead of addressing you directly of what the problem is they fire you immediately. As specified by management, that why the liking of contingent workers is better because it only takes a call an your gone! Yes, there is more but beware of your investment in this company. You will end off dry and tired of yourself chasing a promise career that is never gonna happen. There is favoritism and the isolation in the sitting for the contingent workers vs. staff. This is how I feel "Sad endings but happy beginnings, now that we are through."

    Advice to ManagementAdvice

    Advice to Management is be more attentive to your staff both permanent and contingent. Equally find ways to form all together as a whole and not divide meetings nor celebrations to alienate the staff. It provides a sense of segregation. Observe the team not by your staffs observation alone but carry out the one on one's with feed back. Set your staff up for success and vocalize your thoughts not as a threat rather a standard. Change the moral and environment of favoritism.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 1 person found this helpful  

    Message for Contract Workers Hoping to Get Hired On - Stay Away

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

    I worked at Freddie Mac as a contractor (more than an year)

    Pros

    I was fortunate in that I had a decent direct-manager, otherwise I would not have stayed as long as I did.

    Cons

    If you are a contract worker, which I was for 2 years, expect to be treated very poorly. There is very little training - it's sink or swim here. You cannot attend most of their meetings, thus you have little idea of what's going on within the company. In the meetings that they do let you attend, you will get to watch them give themselves awards (monetary) for work that you have done. You will find that many FTE's enjoy flaunting their positions/great benefits/telework etc. that you can't have (which I found childish). You do not get an actual desk. Instead, you will sit at a cramped table/cube where you can't even stretch out your legs. The exploitation of cw's by Freddie Mac should be illegal. I was told they were going to hire me as an FTE after my 2-year contract was up. But alas, a few months before my contract expired, it was "sorry, we can't hire you", even though my work was exemplary and I literally carried the small department I was in for most of the time I was there. When your contract expires, there is a mandatory 3-month layoff, after which they have the balls to ask to you come back under the same scenario - no benefits, no status. Obviously, Upper Management does not care about the work being done. By this I mean the quality of the work. They do not recognize good cw's who deserve to be hired. Morale is low, even for FTE's who are making good money and getting good benefits. If only they could see what's it's like on the other side as a cw. Maybe they wouldn't complain so much. I've heard it said, "what goes around comes around." If that's so, Freddie Mac is in for a big fall, and I'd have to say they deserve it!

    Advice to ManagementAdvice

    Fire yourselves. :) You really need to go. Place good people in management who care about the work being done, and also about people.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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