Fannie Mae
3.0 of 5 416 reviews
www.fanniemae.com Washington, DC 5000+ Employees

Fannie Mae Reviews

Updated Jul 10, 2014
All Employees Current Employees Only

3.0 416 reviews

                             

74% Approve of the CEO

Fannie Mae CEO Tim Mayopoulos

Tim Mayopoulos

(95 ratings)

46% of employees recommend this company to a friend
416 Employee Reviews
in

Review Highlights

Pros:
  • "Fannie Mae has very good work-life balance atmosphere"
    in 62 reviews
  • "great benefits and flex hours; great for learning all aspects of housing market"
    in 35 reviews
Cons:
  • "Change is bad to senior management - technology used to be empowered to provide value to the business"
    in 16 reviews
  • "Petty management, lots of rot in middle management, corporate culture still very old-school"
    in 11 reviews
  • Show more review highlights

Reviews

    • Work/Life Balance
           
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    • Disapproves of CEO

    3 people found this helpful  

    Great compensation package, but not good for technical career advancement.

    Senior Software Engineer (Current Employee)
    Herndon, VA

    ProsGreat benefits - there are no other local companies that can give you as much compensations with these benefits. You get an "forgivable" loan towards your first house which reduces in principal with every year of service, 25% each year. You get a month of paternity leave which you can use all at once or spread it over the year (e.g. take every Friday off). Flexible hours, work from home, but limited.

    ConsA lot of politics, the teams are very bulky - managers are just looking for "head counts". Too many meetings. Most people will tell you that consultants do most of the work, but there are a few great employees that always put in twice as much work than others. Fannie Mae doesn't believe in firing people - you can do no work for years, but as long as you don't break any rules (porn) then its next to impossible to get fired. This is good for lazy people, but bad for most people looking for advancement in career -- especially since most management believe that head count is better than quality or productive people.

    Advice to Senior ManagementMake people accountable (really!) Demote managers that don't do anything. Try to get more subjective reviews of the team and put in place a fair guide to make everyone accountable. Give more emphasis to technology; get rid of all your contractor vendors - most of them don't give you quality people (in fact, I know of people forging resumes and cheating on interviews with help of the vendor!). Instead cut down number of contractors. Most of those vendors don't give a damn about their consultants, they only care about getting the margin! Take a good look at the vendor management department while you're at it. Get real on technical interviews, and hire more specialized recruiters. Lastly, biggest mistake - reorganize people solely by PROJECT. Get rid of WASSUP/FAST/ORACLE specific teams - or at least remove their power. These teams should be working for the project not mandating how the projects should fit in their model, instead give the project individual responsibilities about designing maintaining and delivering applications - use these teams just to do support work through instructions given by the project.

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    Used to be a great place to work

    Developer (Former Employee)
    Washington, DC

    ProsSolid company with great benefits, although I hear things are changing now.

    ConsBureaucratic
    Promotions are not transparent
    Emphasis moved away from innovative strategies to just putting out the fire.
    Company has been penalized for the faults of few top executives

    Advice to Senior ManagementNone

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    Fannie Mae is a great place to work

    Senior Business Manager (Current Employee)
    Dallas, TX

    Prosthe people, the mission and the work life balance

    ConsThe incorrect information in the media - including this website that classifies the organization as "Government." Fannie Mae is a publicly traded company on the NYSE.

    Advice to Senior ManagementForge ahead

    Yes, I would recommend this company to a friend

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    • Work/Life Balance
           
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    1 person found this helpful  

    Fannie Mae is a good place to work for a while, but don't stay too long.

    Associate General Counsel (Current Employee)
    Washington, DC

    ProsCompensaton is generally good. Work environment is generally low stress and friendly.

    ConsThe culture is very hide bound. Decisionmaking is concentrated at the very top. Promotions tend to be based as much on favoritism and personal comfort as on competence. Career advancement can be none existent.

    Advice to Senior ManagementI'd say it's time for most of them to look for other opportunities outside the company. Many of the senior managers have been at the company for too long. Frank Raines and a few others left, but most of the folks who gave us the accounting scandal and now the melt down in our stock price due to ill advised forays into the Alt A market are still at the company. Current senior management is very reactionary. They seldom act proactively to avoid crises. They look for short term fixes for immediate problems, even if those fixes create more problems down the road.

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    Generally speaking: Good place to work if you want to work your 7.5 hours and collect your paycheck.

    Senior Project Manager (Current Employee)
    Washington, DC

    ProsWork life balance. Most people arrive late and leave early and still get their jobs done.

    ConsVery difficult to advance your career. Lower / midlevel staff have no incentive to excel.

    Advice to Senior ManagementMore career advancement opportunies by way of more job levels.

    No, I would not recommend this company to a friend

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    Nice place to work, but for how long??

    Manager (Current Employee)
    Herndon, VA

    ProsGood collaboration on projects I have been on.

    ConsIn current environment, no job security especially for contractors. Contract extensions are done at the last minute, so one spends a few weeks working at the same time looking for another job until the end-date or an extension is granted. Not a win-win situation.

    Advice to Senior ManagementMore diversity in workforce needed.

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    1 person found this helpful  

    In flux

    Senior Manager (Current Employee)
    Washington, DC

    Prosvery strong benefits package and reasonable hours

    Consinternal politics and confusing place to work; frequent reorganization; your immediate manager and team will determine whether your experience at Fannie Mae is miserable or great, or something in between.

    Advice to Senior Managementtake a hard look at who is needed - there are too many contractors and people working there that don't earn their keep and don't seem needed working on unnecessary projects. questionable pay practices with some employees receiving sales commissions, employees of same level/duties with wide range of pay/bonuses, etc.

    No, I would not recommend this company to a friend

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    Use to be a great place to work.

    Senior Business Analyst (Current Employee)
    Washington, DC

    ProsThe benefit is great. There is a balance between work and home life. When starting you career here after college Fannie is a great place to learn alot.

    ConsTons of politics. Depending on the division you work in, there are some competent managers and some not.

    Advice to Senior ManagementNeed some new blood within the company to generate new ideas. If an employee cannot do their job need to take action to fire.

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    saddened by takeover--BUT not surprised

    Director (Former Employee)
    Washington, DC

    ProsThe mission is important. to many that come to work a Fannie Mae. The company has good benefits. Depending on the department, there is usually good team work among peers.

    ConsSenior management has been out out of touch with the company's main reason for being-mission/ prudent affordable lending. Company managed and run by a few who have held on for many years--all multi-millionaires. Promotional opportunities are based on who you know and not what you know.

    Advice to Senior ManagementNew management should take time to listen to employees concerns. They have been the same over the years , with little improvement. Assess head-count based on need and employee performance. Create a transparent path for career growth.

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    Fannie Mae supporting the mission isn't enough

    Senior Manager (Former Employee)
    Washington, DC

    Prosthe corporate mission to help make it easier to own a home

    ConsAs a 10 year plus veteran I can say that historically senior and mid Management has been arrogant, condescending and domineering they did not want to hear bad or different news and the departmental infighting was horrific. Over the years many employees wondered how the company managed to be named one of the best places to work so offten.

    Advice to Senior ManagementReally listen to the employee attitude surveys for a change; too many excellent and talented people have left because of the dysfunctional departmental infighting.

    No, I would not recommend this company to a friend

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