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Countrywide Financial Reviews

23 reviews

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Countrywide Financial CEO Angelo R Mozilo
Angelo R Mozilo
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23 Employee Reviews

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  1. "No wonder Countrywide went down"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Simi Valley, CA
    Former Employee - Anonymous Employee in Simi Valley, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Paid well for those with little education and no other options

    Cons

    Treated people poorly
    Broken systems
    Poor reputation

    Advice to Management

    Turn yourself in to the authorities


  2. "Good pay, poor culture"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - First Vice President in Los Angeles, CA
    Former Employee - First Vice President in Los Angeles, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Good pay compared to peers and responsibilities in other mortgage banks. Varied opportunities to try different careers in the organization.

    Cons

    Basically, a cowboy culture combined with nepotism. Long hours, no work/life balance once you moved pass VP title.

    Advice to Management

    Review the corporate culture and start living the values it is supposed to represent.


  3. "Working at the Plano office of Countrywide"

    Star Star Star Star Star
    • 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.


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  5. "The company that could have been"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Calabasas, CA
    Former Employee - Anonymous Employee in Calabasas, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    During the housing boom, Countrywide was one of the fastest growing public companies around. Senior management was probably the most knowledgable about the mortgage industry.

    Cons

    The different divisions (e.g., mortgage, banking, insurance, etc.) and overhead functions did not work together in the most collaborative and effective way; instead, performance was based on individual achievements. Professionally managed companies make sure that divisions and functions work together, sharing resources and intellectual capital. Countrywide, unfortunately, was not quite there.

    Advice to Management

    Better risk management and more focus on long-term growth is needed rather than the desire to chase market share.


  6. "Countrywide - a company that became to greedy"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in Tempe, AZ
    Former Employee - Vice President in Tempe, AZ
    Doesn't Recommend
    Disapproves of CEO

    Pros

    They pay at high rate compared to others.

    Cons

    There was poor communication with senior leadership
    They did not follow through on quality
    There was not a bias for action
    They did not care about employee retention
    Countrywide's Benefits are weak relative to others in the industry
    Senior Leadership needs to back up employee suggestions and fight for them
    Vacation is low relative to others in the industry

    Advice to Management

    Listen to your employees.
    Use facts to make decisions instead of using your gut
    Senior Leadership needs to back up employee suggestions and fight for them
    Senior Leadership needs to focus on employee rentention


  7. "dont expect much from this employer if you're looking to grow."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Analyst in Pasadena, CA
    Current Employee - Financial Analyst in Pasadena, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    CW pays better than its competitors. You can expect to get paid in average about 5,000 more than other companies. Depends on what department you work for, it could be very intense but you get what paid for working hard.

    Cons

    lack of communication between management and employee. Management like to keep what's going on under the carpet and wont discuss with employee until it's exposed on the news.

    Advice to Management

    communicate more with employee. create a mentorship for to help employee grow


  8. "Lack of Career Growth"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Analyst II in Fort Worth, TX
    Current Employee - Business Analyst II in Fort Worth, TX
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The company offers a lot of trianing classes so that employees can broaden their skills and their knowledge. The overall environment is good and the people who work within the company are overall friendly.

    Cons

    There is a lack of career growth and nothing is defined on how you can grow your career or move forward in the business. Career paths overall are very vague. There is also little to no recognition for your hard work. Customer service seems to have good recognition but all other departments are highly lacking. You have to be willing to work very hard with no one seeming to notice.

    Advice to Management

    To keep and retain employees you need to help them grow and help them move their careers forward, you can not let them stay in the same place with no recognition. Recognizing good work enables employees to know and understand they are doing a great job. Help motivate them to strive to do their best every day and work with them to expand their carrers.


  9. "Good bye and good riddance."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Simi Valley, CA
    Current Employee - Anonymous Employee in Simi Valley, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    It's getting bought by a bigger, stronger company.

    Cons

    Our name is mud and we were responsible for a large part of the global financial collapse by making loans to people who should not have them, therefore inflating global portfolios beyond their intrinsic values.

    Advice to Management

    (For Bank of America). Have a stronger vision for the end user experience. The web site and marketing programs often seem set up to benefit BofA rather than the customer.


  10. "Former Countrywide Employee Disastisfied from Insurance Division"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Marketing Coordinator in Simi Valley, CA
    Former Employee - Marketing Coordinator in Simi Valley, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Gained experience and knowledge into the financial and insurance industries.

    Cons

    Poor management skills and culture. Low compensation for the challenging work set forth to employees.

    Advice to Management

    Require better communication skills and professionalism from leadership.


  11. "Greatness only lasts as long as the integrity does."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President, Applications Development in Simi Valley, CA
    Current Employee - Vice President, Applications Development in Simi Valley, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    There are many talented and hard working people who are employed with Countrywide. They are mainly found down in the trenches were the real work is done. However, there are small glimmers of light here and there among the executive management also. I have found the best way to see where those lights shine brightest are where they are surrounded by loyal employees who have high productivity and even though the job isn't the most glamorous or best paid, they stay with it and are relatively satisfied with their job. In my many years at Countrywide I have met many, many talented people whom it has been my greatest joy and pleasure to make acquaintances with, to grow with and to encourage and help each other out.

    Cons

    The employees became expendable assets that were no longer valued for their hard work, their ideas for improvements, etc. Unless you were an Managing Director or above, you were not given any worthwhile notice, recognition nor compensation. Countrywide used to be a great place to work. They used to at least try to show that they cared about the employees. After having been with the company for many years, I have seen bad management come in and just propagate more bad management as they have promoted those that have a great exterior presentation but absolutely no idea how to lead let alone manage people. I am hoping that Bank of America will be able to pick up the pieces of a once decent company that greed and ivory tower mentality caused to collapse.

    Advice to Management

    It is truly too late for this company itself, but for those in upper management that have been allowed to stay on with Bank of America, I would hope that they would wake up and realize that they are accountable for their actions. I would hope that they would have a desire to learn what it means to be a leader and a member of a team. Instead of trying to get the next level of perks and not caring about who they left bloodied on the trail to the top or what their decisions today that earn them big bucks will do to the company tomorrow, that they will take notice of the legacy that they are leaving behind and have the integrity to do what is right.


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