Countrywide Financial Reviews in Plano, TX | Glassdoor

Countrywide Financial Plano Reviews

8 reviews

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Plano, TX

2.3
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Countrywide Financial CEO Angelo R Mozilo
Angelo R Mozilo
1 Rating

8 Employee Reviews

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  1. "Fast paced but room to advance"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Plano, TX
    Former Employee - Anonymous Employee in Plano, TX
    Recommends
    Approves of CEO

    Pros

    great advancement opportunites and compensation, very collegial workforce, a number of long term employees, pride in the company, growing fast

    Cons

    very fast paced, never enough staff to do the work needed, seems as if all communications, programs etc were focused on the LCD (i.e. lowest common denominator) employees, short cubicle walls

    Advice to Management

    to many levels of VPS


  2. "bankrupt"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager in Plano, TX
    Former Employee - Manager in Plano, TX
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    good co workers good benefits

    Cons

    sweat shop, bankrupt bankrupt bankrupt bankrupt bankrupt

    Advice to Management

    less management

  3. "Working at the Plano office of Countrywide"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Quality Assurance Analyst in Plano, TX
    Former Employee - Quality Assurance Analyst in Plano, TX
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The only reason I would ever want to work at Countrywide again would be the fact that they got bought out by Bank of America. The company name "Bank of America" would be a good stepping stone for people to move into smaller companies with better pay.

    Cons

    I could go on forever about how terrible this place was. The managers never had any work to do, yet they tried to act like they were really busy. The same went for most of the employees here. We were given lots of "drive around the parking lot" work. I felt like I was becoming dumber every day I went in. The work that we were given was hardly ever challenging. The salary and bonuses were also terrible. I would avoid this place at all costs. Bank of America made a dumb move in acquiring this run down company.

    Advice to Management

    Cut down the number of VPs and SVPs you have in the company. A 3 to 1 employee to manager ratio is just ridiculous.


  4. "Worst Job in the Nation!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Analyst II in Plano, TX
    Former Employee - Business Analyst II in Plano, TX
    Doesn't Recommend
    No opinion of CEO

    Pros

    There really is not a lot of good reasons to work for Countrywide. They used to have superior health benefits but for the past several years they have been scaling back and requiring the employee's to pay more out-of-pocket. Their insurance really isn't all that good any longer. I guess the best reason to work for me to work at Countrywide was that it was 15 minutes from my house.

    Cons

    They are a very reactive not proactive company. Half the time is spent putting out wild fires for management rather than being productive in your job.
    Management is VERY prone to take credit for employee's work, it is a very dog-eat-dog environment. I have also seen that the abvility to move up in the company is somewhat based on how well the employee can "kiss up" and not based on knowledge or hard work.
    Countrywide also tends to hire nonprofessional individuals which creates a nonprofessional atmosphere.

    Advice to Management

    Having had the opportunity to work in three separate division during my career at Countrywide, I found that Senior Management is not involved enough with the work that is really going on. They are more concerned with covering mistakes they've made and having everyone work around the clock for insignificant reasons. With these inefficiencies, it causes more critical errors that has been in the long run the demise of Countrywide Financial Corp.


  5. "Typical southern California company"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Information Security Engineer in Plano, TX
    Former Employee - Information Security Engineer in Plano, TX
    Doesn't Recommend
    Disapproves of CEO

    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 Management

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


  6. "This company has great potential."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in Plano, TX
    Current Employee - Vice President in Plano, TX
    Disapproves of CEO

    Pros

    People. Most of the people you work with are the best. They are always willing to step up and pitch in to help; most of the time without being asked. They really highlight the people during the rewards ceremonies.
    Location. Countrywide has many locations so you have the ability to chose what works best for you.
    Flexiblity. Many of the groups are extremely flexible with the working hours as long as the work gets completed.

    Cons

    Inequity. Most groups within Countrywide, it is who you know to get promoted. Many of the people receive their promotions like "merit" raises. Unfortunately, there are a few managers that try to promote their staff truly based on ability. If you happen to be associated with the "good" boss, your career can suffer as you get left behind.
    Enforcement. Process improvement is a great idea and from these ideas direction is given to individuals and groups on how to use the new technique. The downside is that no one enforces the transition to the new method. This often results in fragmented processes and one more system or application where 50% are using the old and the other move on to the new.

    Advice to Management

    Communicate. Take time out of that busy schedule to truly talk with your staff. People just like to know "why" and feel included. If your staff believes you care about them, they will do anything for you.
    Trust. Blind faith in your managers usually is not the best for the company or your staff. Some people even though they have tenure are not cut out to manage people.
    Vision. Get past "the way we have always done it" and embrace the best way to do it.


  7. "Once was a great place to work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager in Plano, TX
    Former Employee - Manager in Plano, TX
    No opinion of CEO

    Pros

    It's a place to work for a pay check.

    Cons

    Unable to advance based on performance and not who you know.

    Advice to Management

    Stop hiring family members within the same division.

  8. "Used to be a good company until it got too large"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in Plano, TX
    Current Employee - Vice President in Plano, TX
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The compensation (salary) tends to be very competitive compared with other companies in the same industry.

    Cons

    Extremely poor communication between senior to mid-level management and employees. Too many layers of upper management. All layoffs occur at the "worker" level and rarely at the inflated management levels. Failure to make the right, tough decisions when the secondary market collapsed to downsize the company have almost resulted in bankruptcy and a subsequent buyout by Bank of America.

    Advice to Management

    Stop protecting your friends and family members (nepotism is rampant) and inflated upper managements structures (EMD's, SMD's, MD's, etc.). To late but what has been needed is LEADERSHIP and demonstrating a willingness to take tough steps to keep the company afloat.


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