Fannie Mae Reviews

Updated October 24, 2014
Updated October 24, 2014
457 Reviews
3.3
457 Reviews
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Fannie Mae CEO Tim Mayopoulos
Tim Mayopoulos
113 Ratings

Review Highlights

Pros
  • If you go in with your eyes open, it can be a stable environment with good work/life balance (in 75 reviews)

  • great benefits and flex hours; great for learning all aspects of housing market (in 40 reviews)


Cons
  • Change is bad to senior management - technology used to be empowered to provide value to the business (in 19 reviews)

  • work/life balance varies from dept to dept, manager to manager (in 7 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    First real job out of college, only accepted to pay off student loans; wasn't in my long-term plans.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Loan Operation Specialist I in Herndon, VA
    Current Employee - Loan Operation Specialist I in Herndon, VA

    I have been working at Fannie Mae full-time (more than an year)

    Pros

    Training opportunities, workplace environment, benefits

    Cons

    Senior management doesn't approve new hires quick enough in production environments

    Recommends
    Negative Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Enter at your own risk

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

    I have been working at Fannie Mae full-time

    Pros

    Good work - life balance
    Most of the people are smart, hard working

    Cons

    Most people managers have no clue how to manage people or workflows. FM promotes people with no management skills and has no plan to train these people.
    The culture is stuck in the 1990's and isn't changing
    There are a lot of people that are underemployed (have time and capacity to do more), but management refuses to acknowledgement that point.
    Too much internal focus and not enough customer focus

    Advice to ManagementAdvice

    You aren't as smart as you think you are
    The culture isn't changing although you spend a lot of $$ talking about it
    You have gotten way too arrogant with the shift in the market the last couple years. You aren't that good
    The "one size fits all" management strategy doesn't work well

    Doesn't Recommend
    Neutral Outlook
  3.  

    Disappointing yet enlightening at why we have such problems in this industry.

    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Dallas, TX
    Former Employee - Anonymous Employee in Dallas, TX

    I worked at Fannie Mae as a contractor (more than an year)

    Pros

    As always, the people I worked with are great folks. I miss them a lot but had to move on to maintain my sanity.

    Cons

    They do one thing well: loan evaluation and processing. Everything else--all their supporting services--are either run by people who were on the mortgage side of things or were hired by mortgage people who do not know how to hire for supporting services. As an employee, if your expertise is in your career area rather than mortgages, your educated suggestions are not valued--much like it might be to work in a law firm in IT, I imagine, except that loan processors don't get paid as well. The company culture was more like a high school than a business. I observed favoritism, territorialism, disrespect, and misplaced priorities and heard about abuse of power. Oh--high security. Security guards at every door. They walk the floor checking everyone's laptops to make sure they are cable-locked. You get in big trouble if they are not locked in place. If only they paid as much attention to their non-loan related business processes as they do to security! There are a couple of wicked-smart people who still work there, and some of them are dear friends, but I don't understand why they are still there. The place needs a top-to-bottom overhaul.

    Advice to ManagementAdvice

    1. Hire someone at the top of their game to head up IT who will manage software development properly. 2. The mortgage side (the "business side") *cannot* have the final say on every decision. It leads to corrupt thinking--no, not criminally corrupt thinking--day-to-day business practices depend on relationships and being able to negotiate design decisions, schedules, deliverables, quality, etc. on a reasonably level playing field. The biz side knows they will win every dispute, so it makes for bad negotiations and worse decisions. They do not respect the expertise of the other party.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Fannie Mae Response

    Sep 17, 2014Company Representative

    Thank you for taking the time to write a review. We are sorry that your experience at Fannie Mae did not meet your expectations. We take these reviews seriously and will pass your feedback to Senior ... More

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  5.  

    Very friendly working environment

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

    I have been working at Fannie Mae

    Pros

    Friendly. Work-life balance. A lot of areas to learn with some of them very unique in this industry.

    Cons

    A little bit political if you are adjusted to the private/ small company working environment. Types of teams vary a lot. You really need to pick the right boss.

  6. 1 person found this helpful  

    Data Management Analyst II

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Data Management Analyst II in Washington, DC
    Former Employee - Data Management Analyst II in Washington, DC

    I worked at Fannie Mae full-time (more than 3 years)

    Pros

    if you want to retire and dont worry about your pay check growth that inturn reflects in your personal and professional growth and development, this is a best place to hang out. If you are good in spending your whole day,week and months in meeting rooms and provide lip service, awesome place to stay.

    Cons

    Not at all a place for any sane professional to grow. Full of politics. Re orgs happens like evry day meetings. If you wanna go on depression pills, please join this company. Filled with full of soccer moms and movie dadys.

    Advice to ManagementAdvice

    Grow up professionally and learn some skills to lead

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7.  

    Has Potential to be a Good Company

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

    I worked at Fannie Mae full-time (more than 3 years)

    Pros

    Good work-life balance. Decent benefits and salary. A lot of opportunities to improve the organization, but not likely to happen in the near future. No competition to challenge the company to do better.

    Cons

    Uncertain future. Some managers/directors lack the skill set needed to effectively lead.

    Advice to ManagementAdvice

    Start valuing the employees that can make a difference at Fannie Mae and get rid of the lame managers/directors who don't know what they are doing, but create impediments when efforts are made to improve the organization.

    Doesn't Recommend
  8.  

    mikes

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Administrative Assistant in Detroit, MI
    Current Employee - Administrative Assistant in Detroit, MI

    I have been working at Fannie Mae full-time (more than an year)

    Pros

    job security, pay, growth potential, and bonuses

    Cons

    long hours but great overall company

    Advice to ManagementAdvice

    be more relaxed at times

    Recommends
    Neutral Outlook
    No opinion of CEO
  9.  

    Its ok. Nothing too stressful and generally great co-workers.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Fannie Mae

    Pros

    Compensation, work/life balance, great for resume

    Cons

    Repetative work in a mundane industry. Constant talk of change to industry since Bailout has everyone worried for their jobs.

    Advice to ManagementAdvice

    Find ways to breath life into the company. Lots of older employees who have been with company for 15+ years. Not much room for innovation.

  10. 1 person found this helpful  

    it is rough

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

    I worked at Fannie Mae full-time (more than 10 years)

    Pros

    The employees are great, they are friendly and willing to help accomplish the goals.

    Cons

    Sr management is really messed up. They no longer value employees, VPs and above are just about their bonuses. They have trashed the company and constantly are working on ways to strip the company of any value. Most of the company has turned over in the last 5-8 years. Sr Executives have come from NY where it is a cut throat culture, and in turn brought that to Washington DC. Of course, they cut and run as soon as they find another post back in NY. Most positions are hired through the hiring managers buddy network, with little concern of talents.

    Advice to ManagementAdvice

    While you say you are doing right for the company reality is you are destroying the company. The values and atmosphere from years past, have been destroyed by a bunch of Executives, that are motivated by dollars and controlling a multi trillion dollar enterprise.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Welcome to Little India

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

    I worked at Fannie Mae as a contractor (more than an year)

    Pros

    Nice people to work with.
    Good work life balance. It's a 9-5 shop

    Cons

    It's a big bank. Sometime they thing they are an IT company.
    Only good if your an employee and not a contractor
    To get anything done you have to go through several layers of approval.
    Not a place to be if your looking for a challenging fast pace environment.
    Most of the PM's are just paper pushers and collecting documentation. Real work is managed by Dev Manager

    Advice to ManagementAdvice

    Cut the layers out. Way too many managers.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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