Fannie Mae Reviews

Pros

Fannie Mae offers great benefits that include paid volunteer hours per month, telecommute options, a great 401K contribution plan, drink machines throughout the building that include hot chocolate, coffee and teas, pantry rooms, okay cafeterias, shuttle buses, and competitive pay.

Cons

I've worked in two different departments; Single Family & Credit Risk (both very essential departments to the organization). The environment has remained tense, and the morale is nonexistent. Although there is paid volunteer leave, it's looked down upon if you decide to utilize this benefit each month.

Employee Town Halls are filled with political b.s. and they always start off with "Fannie Mae is helping homeowners and we need you to help us do that..." yet they do major layoffs at least once a year.

Despite the attractive benefits, Fannie Mae is an extremely political environment. I've noticed very few smiling faces walking down the halls. I would not recommend this environment for open minded and creative individuals.

Advice to Senior Management

Much of what we do is on the Internet, yet managers are hesitant to allow you to work from home. Stop holding Town Hall meetings if there is nothing of value to say.

Pros

Good benefits, particularly for retirement (I'm under the "old" plan with a pension)

Cons

We're in conservatorship and really don't know what the future holds. Will we be eliminated, re-badged under a new company name? Will our jobs be outsourced (probably)? Will our pensions still be around after we are "unwound"? I've gotta say, I never saw this coming. It's a scary time at Fannie, but the benefits are hard to let go of in such an uncertain economy. Golden handcuffs.

Pros

Work life balance Compensation Interesting work

Cons

Communication is non existent today

Advice to Senior Management

Not much to say here

Pros

Great strategic insight into the entire housing market, allowing you to see the big picture. Extremely dedicated and hard working teams across all business lines.

Cons

A healthy amount of underqualified professionals recieve promotions into people management roles. If you have the right referral, you can move into any role - regardless if you are not the best candidate. Frustration does not scratch the surface in describing the general employee moral.

Advice to Senior Management

Don't let Washington bully you around....FHFA, HUD, Congress - you're more to blame than anything in this whole mess!

Pros

Very good and competitive environment. Treats employees fairly.

Cons

Bereaucratic company and some simple things will get delayed

Pros

high profile company
Visbility within Mortgage Industry

Cons

Non technical people working in technology
Bad behaviour
Indecent people
Roles and responsibilities not defined properly
Management has not plan in place.
Preference is given to people who dont know anything.

Advice to Senior Management

I worked a group called OpenSpan in Fannie Mae Dallas,TX. All the good technical staff has already left the team. The present team has no idea how the technical flow works. They are saving their jobs just showing they know everything. The group has failed to execute things probably. ITs waste of time and money spending on this group.

Pros

Above avaerage compensation and benefits.

Cons

Management no longer empowered to manage day to day tactical operations. All decisions must be made at the top level. This often results in an untimely delays, and or in no decision being made. This has a significant negative affect on morale at all employee levels. Promotions are more often than not performance related.

Advice to Senior Management

Good leadership mandates that you communicate from the top often and or daily. Silence feeds the rumour machine. Promote your performers, as they are who get measureable results. Strictly enforce all written corporate procedures, and swiftly and harshly deal with all violations. Failure to do so creates anerchy and fear at all levels. You must operate transparently in the open, and not from behind the curtain like The Wizard of Oz..

Pros

Salary was above average. The company provide a very good benefits package.

Cons

The company is in the process of outsourcing their IT services. They are currently making some of the current IT staff train their replacements which is humiliating for the people effected. The IT staffers are split between those desperately trying to get out and those willing to wait for their turn to be outsourced to get the severance package.

Advice to Senior Management

You might want to brush up your resumes as well. The government is really running the show at Fannie Mae after it was taken under conservatorship in 2008. The company probably has no future as it is presently constituted.

Pros

Salary was fair for the position

Cons

The mood, pressure, everything was a priority, IT couldn't get out of their own way or get anything implemented, changing a lightbulb required 2 VP approvals, a conference call, a six sigma black belt and a little luck. Overall not a nice place to be or spend time. Not just my area, folks in other areas were looking for a way out, somewhere else to go for a change...a break from the madness.

Advice to Senior Management

Treat people with respect, not everything is a priority, firedrill mode can't last years. IF the business model survives in some form....the good folks will remember how they were treated in the tough times and will head to more hospitable shores. The DC market does NOT revolve around Fannie Mae.

Pros

Good benefits package and compensation compared to similar positions in the same industry. Good training opportunities to increase professional growth.

Cons

Company going through major transitioning, which involves re-organization and downsizing; as a result, job stability in question, particularly for longer-term employees. Work becomes more challenging as those remaining have to take on the extra burden from those who are no longer in the company.