Financial Freedom Reviews

Updated July 21, 2015
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  1. Good Place

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Austin, TX
    Former Employee - Anonymous Employee in Austin, TX
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Financial Freedom full-time (More than 3 years)

    Pros

    Not a bad place to work. Friendly people.

    Cons

    Temp positions for all incoming workers. No benefits, holiday pay, vacation pay.


  2. On the way out

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Austin, TX
    Former Employee - Anonymous Employee in Austin, TX
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Financial Freedom full-time (More than a year)

    Pros

    Flexible schedule, friendly coworkers, location

    Cons

    When Onewestbank -a parent company of FF - closing its door in Austin. It takes FF with it. FF is a servicing company that serves Fannie Mae and Freddie Mac reverse mortgages . When the government stopped supporting Fannie Mae, the company sold its portfolio to another servicing company. The process started almost a year ago. Over the summer, employees got notice that they are losing their jobs. The problem is that they didn't ship the whole portfolio to a new servicing company, the employees still have to serve what left of it working in a uncertain future stresses everyone out . The promise of a compensation is high but no one knows whether they will ever get that compensation.

    Advice to Management

    Inform your employees the process. No one wants to work in an uncertainty environment.


  3. Helpful (1)

    First to go in the 2008 Crash; Employees Reap The Whirlwind

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Austin, TX
    Former Employee - Customer Service Representative in Austin, TX
    Doesn't Recommend

    Pros

    Financial Freedom had a good benefits package in terms of dental, eye, and health insurance.

    Cons

    When Indymac Bank was the first domino that went over in 2008, Financial Freedom became a federal ward. After three months of promises that the new Austin team would innovate and be on the ground floor for becoming new management tiers, everything calcified. There were no raises, there were no legitimate promotions, and all of our upper management was out of the picture. We had been trained, and customer service floated along trying to cluelessly support departments that were even more clueless. The team was asked to work harder, not smarter. We had no training beyond what we got in the first three months. Employees were doing the work of management, staying late, and working mandatory overtime without the benefits. When One West Bank stepped in, everyone who had worked to keep Austin afloat was laid off because their per hour payment tier ($14) was higher than new hires ($11). Overall, it was a stagnant call-center environment full of drudgery and tyrannical management that had no idea what it was doing.

    Advice to Management

    Train your employees. Sending out massive emails about policy changes does not count as training, especially when it happens 3 or 4 times a day with revisions that management forgot. And when you don't train, don't monitor a call and nail an employee to the wall for doing or not doing something they didn't know they were supposed to do or not do. If you can afford to be Big Brother, you can afford to make sure your employees are equipped to do their job. Promote people who are working hard; don't string them along with promises. Asking someone to work harder than they should is not an alternative to a threat of termination. When you can't train and you can't promote, something is seriously wrong with the situation. It becomes the definition of a dead-end job.


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  5. It once was the best, now they closed the doors and told us to go home!

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Atlanta, GA
    Current Employee - Anonymous Employee in Atlanta, GA
    Doesn't Recommend

    Pros

    Good Location, somewhat flexible with working hours, most people were nice to work with and had been with the company a very long time, employees got along mostly.

    Cons

    management tried to provide employee incentives but no budget was allowed to work with, not alot of recognition when you do a good job.

    Advice to Management

    OWB ran this once thriving company into the ground. We used to be the best, now were out of business like so many of the rest!


  6. Supervisor, Operations

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Supervisor, Operations in Irvine, CA
    Former Employee - Supervisor, Operations in Irvine, CA
    Recommends

    Pros

    Great place for benefits, personal time off, and location. Company has had many changes over time which could be a benefit in new opportunities for certain positions.

    Cons

    In the current industry and parent company, great uncertainty exists which can be stressful and for some a very negative environment for long term commitments.

    Advice to Management

    The moral needs to be improved, many employees are not able to value the benefits to the company while so much uncertainty is abundant. Many employees are no longer putting forth an effort to value the job or position which makes it very hard for managers to motivate staff to take pride in their work.



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