Freddie Mac

  www.freddiemac.com
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Freddie Mac Reviews

Updated May 30, 2014
All Employees Current Employees Only

3.1 337 reviews

77% Approve of the CEO

Freddie Mac CEO Donald H. Layton

Donald H. Layton

(83 ratings)

52% of employees recommend this company to a friend

Review Highlights

Pros
  • Freddie continues to offer a favorable work/life balance environment (in 55 reviews)

  • Great benefits but work-life balance depends on the area you work in (in 30 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 22 reviews)

More Highlights
29 Employee Reviews Back to all reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Freddie Mac operations are below part.

    Senior Business Analyst (Former Employee) McLean, VA

    ProsGood benefits, but that's it.

    ConsCulture 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 Senior ManagementGalvanize your workforce.

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    2 people found this helpful  

    experinces with Freddie Mac

    Network Engineer (Former Employee) Reston, VA

    Prosno personal growth, training is good, but you cant use alot of it at freddie mac

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

    Advice to Senior Managementlook at the quality of the people you hire

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    Slow Highway to Hell

    Anonymous Employee (Current Employee)

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

    ConsIT 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 Senior ManagementMake 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.

    No, I would not recommend this company to a friend

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Freddie was a lot like hell

    Financial Analyst (Former Employee) McLean, VA

    ProsNice buildings, good food, good IT systems

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

    Advice to Senior ManagementCompany is beyond advice.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

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

    Settlement Specialist (Former Employee) Tysons Corner, VA

    ProsWell, it certainly was a paycheck.

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

    Advice to Senior ManagementCW'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.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Contractors stay away

    Anonymous Employee (Current Employee)

    ProsThere are no pros to report about this employer

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

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

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

    Mortgage Processor (Former Employee) Atlanta, GA

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

    ConsThere 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 Senior ManagementAdvice 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.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

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

    Analyst (Former Employee) McLean, VA

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

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

    No, I would not recommend this company to a friend

    1 person found this helpful  

    Interview

    Anonymous Employee (Current Employee) McLean, VA

    ProsLarge company offers opportunities for personal growth

    ConsDo not inform you of Interview process. Keep you hanging. When I went for interview found interviewers unprepared with no idea what position I was interviewing for.

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Sinking ship with no future - talented IT professionals should avoid like the plague!

    Anonymous Employee (Current Employee) Reston, VA

    Pros38.75 hour work week
    Training and educational opportunities
    Fully-funded master's degree programs with one-year payback period
    Early releases before some holidays
    Cafeterias, fitness center, wellness center at McLean headquarters
    Early pay day if you opt for direct deposit
    Makes for a good MBA application essay
    "If you can survive here, you can survive anywhere"

    ConsLow pay relative to market - young IT employees who leave report 30-50% (or higher) increases elsewhere
    Wage freeze
    Northern Virginia cost of living (including taxes, tolls, housing)
    Northern Virginia traffic
    Northern Virginia politics
    Mired in excessive politics and bureaucracy, empire building and organizational silos abound
    Poorly documented, convoluted processes (technology change management) that keep changing for no good reason other than that someone has to justify his or her job - and it's always your fault!
    Low employee engagement and morale
    No direction or vision
    Very negative corporate reputation - people will attack you personally (blame you for the economic problems) when they hear who you work for
    The "enterprise" is a political piñata under attack from all sides
    Rumors of outsourcing and layoffs
    The smart, talented employees have left the building, and the ones left are looking for the exits
    Ed Haldeman is gone

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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