Countrywide Financial Reviews

Current Employee – been working at Countrywide Financial

Pros – The people we work with are great. Everyone works hard and has a great work ethic and positive attitude, despite the adversity we're facing.

Cons – Horrible compensation--they just changed our comp plan, and it's basically minimum wage, unless you're able to make your numbers. The numbers are not achievable given the current situation--no one is able to do it right now. My son makes more working at Starbucks, and we work so many hours, I don't have time to look for another job. I feel trapped.

Advice to Senior Management – We need help. More and better products to sell, a living wage, tools to expand our business.

No, I would not recommend this company to a friend

Former Employee – worked at Countrywide Financial

Pros – They were very flexible when it came to taking time off, however this came at a cost at times. Working as a Business Analyst in IT, there were many nights and weekends spent working long hours. However, I was able to advance very quickly from a BA II to a Lead BA within 2 years. There was many opportunities to gain additional education and leadership training that was provided at no cost to the employee. The IT team was great to work with and everyone in each functional area was more than willing to help. Most of the team really worked well together

Cons – The poor leadership at times added to confustion amongst teams which caused problems for project deadlines. Often times there was an unwillingness for IT and the business units to work effectively together, however most projects and relationships were well maintained and business objectives met. There was a major problem with nepotism amongst senior management and individuals that did not contribute to the efforts to meet business needs were often rewarded at the cost of overlooking those who had shown dedication. The company was very large, and for an organization of this side I would imagine it would be tough to please everyone.

Advice to Senior Management – Recognize some of the supporting members of the team, no matter what their title. It seemed that VP's and above got preferential treatment through nepotism.

Yes, I would recommend this company to a friend

Current Employee – been working at Countrywide Financial

Pros – Countrywide compensates very well for individuals willing to work hard. Dispite the downturn in the mortgage industry, the company looks for creative ways to compensate its employees. I was approved for a promotion durning the company's acquisition by Bank of America. While the raise was a little lower than I had hoped, I was still happy the promotion when through in such an adverse environment.

Cons – The downturn in the mortgage industry has led to downsizing in some departments.

Advice to Senior Management – None.

Yes, I would recommend this company to a friend

Former Employee – worked at Countrywide Financial

Pros – Work/life balance in the position I was in, the corporate offices were generally in nice areas and suburbs, commute times reasonable, nice offices

Cons – Lack of career advancement opportunities, lack of recognition of superior work, geographic separation of management and staff leads to the 'out of sight, out of mind' mentality.

Advice to Senior Management – Prepare for a culture shock with the BOA acquisition, and be open to change. Recognize that structure and organization are a good thing.

No, I would not recommend this company to a friend

Former Employee – worked at Countrywide Financial

Pros – You could put in a lot of overtime.

In fact, it was required!

Cons – Management in my department were prejudiced against you if you were not Hispanic . . . . they would talk about you in Spanish and laugh making it obvious which employee they were belittling.
They belittled employees instead of encouraging them to do better. And they made sure other employees heard.
High turnover as we all found jobs with companies that treated their employees like people.
They made promises about advancement but never followed through.

Advice to Senior Management – They brought the ghetto from California to run the Tempe Landsafe offices. BIG mistake. They have no respect for the employees and the employees leave taking all the training and knowledge with them.

No, I would not recommend this company to a friend

Former Employee – worked at Countrywide Financial

Pros – now that they are part of Bank of America it may be better- there are many key positions that are held by employees who do not now their job but there are others who do and they make great role models

Cons – some managers lack the skills needed to do their job and the negative press and lack of customer service after the loan has closed makes it difficult to take pride in the company for whom you work . If you are a fvorite it is easier to ge tthings done but if you have peronal issues with management the job is much more difficult

Advice to Senior Management – nepotism is not the best method for promotion- this was the case with some managers on the floor while others were truly exemplary. Morale needs to be boosted and honesty is the best policy not subterfuge

No, I would not recommend this company to a friend

Current Employee – been working at Countrywide Financial

Pros – Pay was formerly the best reason, but current environment has led to compensation reductions for most employees. Changes are constant, which can be positive, if embraced. Surrounded by talented people.

Cons – Work-life balance is extremely poor; constant concern over "right-sizing"--euphemism for layoffs; training is virtually non-existent.

Advice to Senior Management – The expectation of employees continues to be "more, more, more, faster, faster, faster". Working people this way is like asking them to run on a treadmill that keeps getting faster. They eventually wear out & productivity suffers. Work/life balance should be embraced & promoted. Sadly, it is workaholism that is rewarded, and thereby the expectation.

No, I would not recommend this company to a friend

Current Employee – been working at Countrywide Financial

Pros – It is in Southern California. I work of the Irvine office. If you really want to live in Orange County, then this company could be ideal for you. It is a laid back work environment.

Cons – Terrible communication. Lack of objective performance standards. Incompetent senior management. To get ahead at Countrywide you need to gain the favor of someone at level above you. People are promoted based on favortism and not necessarily performance.

Advice to Senior Management – Care about your employees.

Current Employee – been working at Countrywide Financial

Pros – The people. Everyone is smart, professional and willing to do what it takes to get the job done. Most people care about the company and the direction it takes. They care about the customers and ensure that we are always doing the right the thing.

Cons – Sr. Management doesn't seem to know what's happening within each group. Rather then looking for strong leaders within the organization they go outside. The issue with this is that these people don't last. This causes stress on the employees, and ensures that people wont stay, as they don't see opportunities for growth.

Advice to Senior Management – Look at the way you treat your employees. Look internally, and learn about the people that work for you. When other's depart seek direction from those they lead. If you lost a good manager, it's probably a safe bet that they left behind good employees that will provide direction and possible management.

Yes, I would recommend this company to a friend

Former Employee – worked at Countrywide Financial

Pros – Back in 2004, CF was a very stable place to work. Lots of "lifers" who were there because of the 20-year pension plan and low level of intellectual demand. Many of the employees were very friendly/nice, but not interested in challenging themselves. It was possible to do the same thing day after day for years at CF.

Cons – Lots of lifers. Very slow to change. Not really a technology-driven company.

Advice to Senior Management – Hire better people. It's one thing to be cost-conscious, but there are/were too many people at CF without college degrees. The overall quality of the employees there was almost the exact opposite of a high-tech startup: at CF, there were lots of folks (regardless of pay level) who were cruising through their careers.

No, I would not recommend this company to a friend