Countrywide Financial Reviews | Glassdoor

Countrywide Financial Reviews

Updated May 2, 2017
86 reviews

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2.7
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Countrywide Financial CEO Angelo R Mozilo
Angelo R Mozilo
5 Ratings

86 Employee Reviews

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  1. "Countrywide really does not offer any real career benefits"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Systems Administrative in Los Angeles, CA
    Current Employee - Systems Administrative in Los Angeles, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    If you are looking to purchase or refinance a home, there are modest employee discounts on fees and closing costs.
    If you participate in the 401K plan the company matches 50% of your contribution up to a maximum of 3%
    If you are a "superstar" level employee you will have planty of opportunities to shine, to be the hero, to be the one that "gets things done".

    Cons

    First and foremost is the compensation. It is low to begin with and this year the increases didnt even match half of the inflation rate. There really are no opportunites to receive bonuses (unless you are management) or profit sharing.
    Promotions are few and far between and typically go to those who are better talkers, rather than better do-ers, so real recognition for great work really isnt there.

    Advice to Management

    Stop treating the employess as cattle. Remember that we are the ones who actually DO the work that makes you the money. Try sharing the wealth a little. Tough economic times is really no excuse not to provide the employees with a minimum cost of living adjustment that keeps up with inflation. Raises should be based on inflation rate base PLUS the performance margin.


  2. "The worst company I've ever worked for"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Payroll Specialist in Pasadena, CA
    Former Employee - Senior Payroll Specialist in Pasadena, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    None that I can think of.

    Cons

    Everything! Management thinks of themselves. Promise you the moon to get the job done, then the promises are quickly forgotten. Worked 60 hours a week to get the new computer system up, and got a candy bar as a "thank you", only to give us "pink slips", and send the payroll department to Fort Worth, TX from Pasadena, CA. Just to save 8K per employee per year. Mozilo spends that in one day.

    Advice to Management

    Take some classes on Management Skills. Even the H/R Vice President would not even say "hello" to you...

  3. "Nightmare"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Applications Developer
    Current Employee - Applications Developer
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Perhaps in the past there were, none now. Will bofa want you? There might not be any reason to work for such a miserly company. They suck you dry on vacations, benifits and all they are concerned is that you should be there, 8-5. Perhaps in the past there were, none now. Will bofa want you? There might not be any reason to work for such a miserly company. They suck you dry on vacations, benifits and all they are concerned is that you should be there, 8-5. Perhaps in the past there were, none now. Will bofa want you? There might not be any reason to work for such a miserly company. They suck you dry on vacations, benifits and all they are concerned is that you should be there, 8-5.

    Cons

    Very poor management. Most are working there to save their jobs. Perhaps in the past there were, none now. Will bofa want you? There might not be any reason to work for such a miserly company. They suck you dry on vacations, benifits and all they are concerned is that you should be there, 8-5. Perhaps in the past there were, none now. Will bofa want you? There might not be any reason to work for such a miserly company. They suck you dry on vacations, benifits and all they are concerned is that you should be there, 8-5. ok.

    Advice to Management

    Dont waste your time covering your a55.


  4. "Countrywide CanNOT!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Operations Manager in West McLean, VA
    Current Employee - Operations Manager in West McLean, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    the one only reason to work for Countrywide is the feeling of accomplishment when you've truly helped someone refinance or purchase a home.

    Cons

    there are two many downsides to list.

    Advice to Management

    All Management personnell should be required to take management training courses regularly and updated courses every year.


  5. "One of the worst companies in finance"

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

    Pros

    The fact that you get paid regardles of whether you do a good job.

    Cons

    This is one of the most nepotistic companies I've seen. People advance here by sleeping with people in power. There is no reward for going above and beyond. Instead, the firm prefers to institute a culture of fear and scare people into performing their jobs for low cost. The corporate bureaucracy wastes money and ties the hands of line managers. Many senior managers throughout the organization only care about their own pocketbooks and are therefore disingenuous with their communications. It could be due to incompetence, but that's equally pathetic.

    Advice to Management

    Stop chasing money and pay attention to the bloated infrastructure you've allowed to develop.


  6. "scheduled breaks - "what time do you pee?""

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Negotiator II Home Retention Division in Richardson, TX
    Current Employee - Negotiator II Home Retention Division in Richardson, TX
    Doesn't Recommend
    Disapproves of CEO

    Pros

    benefits if you can stand to stay long enough to qualify for them.

    Cons

    micromanagement and lack of respect for employees - no one in my department smiles or seems happy to be doing their jobs. we are supposed to be in the business of helping people and no one cares because they are so miserably controlled by management and the Aspect time management system nightmare. even long term employees are unhappy with this department and most are unhappy with the departments they came from. not a good recommendation.

    Advice to Management

    1. get people off of the Aspect time micromanagement system. you are turning everyone into clock watchers who are afraid of non-compliance for missing their pathetic 10 minute scheduled break. it interferes with a normal natural work flow.
    2. give us casual fridays. what is the big deal? we don't have face to face interaction with our customers.
    3. don't make employees, especially new employees you recruited because you disparately need them, feel like you don't trust them at all.


  7. "It Deserved to Fail"

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

    Pros

    In certain divisions, there used to be a lot of growth and promotion opportunity. Compensation was very uneven, but some people were paid extremely well, especially relative to their skillset and contribution.

    Cons

    Too many to enumerate. Across the board, the physical and social environment is very uncomfortable. Social conversation is discouraged, and there is extremely little privacy, so it is difficult to form strong working relationships. There is a serious lack of ability and failure to manage people.

    Advice to Management

    Put people first. Take a semester-long ethics class. Get rid of the 3 foot tall cubicles.

  8. "Working there could easily turn out to be the worst decision you could make"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Specialist in Westlake Village, Los Angeles, CA
    Former Employee - Operations Specialist in Westlake Village, Los Angeles, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Pay, selection of jobs to choose from, various job sectors

    Cons

    Working environment, reputation, policies, management,

    Advice to Management

    The attitude of this company seems to start with the top (Angel Mozilo), and they should (and I believe will) totally revamp and start over


  9. "Countrywide is a terrible place to work."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Credit Analyst I in Tempe, AZ
    Former Employee - Credit Analyst I in Tempe, AZ
    Doesn't Recommend
    Disapproves of CEO

    Pros

    You could put in a lot of overtime.

    In fact, it was required!

    Cons

    Management in my department were prejudiced against you if you were not Hispanic . . . . they would talk about you in Spanish and laugh making it obvious which employee they were belittling.
    They belittled employees instead of encouraging them to do better. And they made sure other employees heard.
    High turnover as we all found jobs with companies that treated their employees like people.
    They made promises about advancement but never followed through.

    Advice to Management

    They brought the ghetto from California to run the Tempe Landsafe offices. BIG mistake. They have no respect for the employees and the employees leave taking all the training and knowledge with them.


  10. "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.


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