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Countrywide Financial 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. "Safety"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Countrywide Financial full-time

    Pros

    If you like the wild west, this was the perfect place to work. You make your own luck, and to heck with the consequences. Hence the downturn in the housing market and the financial industry as a whole

    Cons

    In the wild west its tough to find partnership, support or anyone who cares what the regulations say. Therefore you might find yourself alone, in the middle of the wide open, wondering if the person coming your way was for you, or against you.

    Advice to Management

    Management takes investment, commitment and dedication. It reaps its rewards in the growth teammates, trust, and shared responsibility. It's not for the feint of heart.


  2. "No wonder Countrywide went down"

    StarStarStarStarStar
    • 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

  3. "Good pay, poor culture"

    StarStarStarStarStar
    • 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.


  4. "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.


  5. "The company that could have been"

    StarStarStarStarStar
    • 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"

    StarStarStarStarStar
    • 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."

    StarStarStarStarStar
    • 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"

    StarStarStarStarStar
    • 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."

    StarStarStarStarStar
    • 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. "Countrywide Bank?"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Representative
    Current Employee - Financial Services Representative
    Doesn't Recommend

    Pros

    Countrywide Bank offers good benefits and flexible hours. They provide training in Boston and support for their positions and allow you ample time to prepare to work there. They offer discount programs for many services including theme parks and cell phone packages. The offices are usually small and most times everyone works as a team. The main goal of this position is retention and if you are good at sales this should not be too difficult for you to do. All in all its a decent place to work if you are looking for a job which provides flexible hours but not great pay.

    Cons

    There is no real room for advancement. They have also been taken over by Bank of America and numerous locations are closing. They do not sponsor you for any licensing exams and do not allow for any opportunities for advancement. Unfortunately there is little to no future with this company. There is some favoritism by management to certain employees. Many workers leave early or come in late. The bonus packages leave much to be desired. The pay is definitely not great and there is a lot of "cold calling" involved with this position. You must also meet a quota for answering customer service calls every day.

    Advice to Management

    Give more opportunities to advance.


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