Fannie Mae - Surprised at how well-run this company is. | Glassdoor
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Helpful (2)

"Surprised at how well-run this company is."

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Business Analyst I in Dallas, TX
Former Employee - Business Analyst I in Dallas, TX
Recommends
Neutral Outlook
Approves of CEO

I worked at Fannie Mae full-time (More than a year)

Pros

Extremely professional organization. The people are very well-qualified and dedicated to their mission. Fascinating to see the internals of how the mortgage industry actually works in this country. Fannie Mae has been unfairly vilified as a cause of the mortgage collapse. In fact, they are required to buy loans sight-unseen from the originators, which provided a great opportunity for fraudulent mortgage brokers. Why the law was written like that is an enduring mystery! Finally, it is a very diverse workforce demographically.

Cons

The employee evaluation system for non-managers is arranged so that 50% of the evaluation is based on a "360 degree" view, and only 50% on quality of work -- meaning that non-managers must be popular to stay. When coupled with the HR "stacking" policy in which the bottom 5% of the staff is targeted for termination each year, and the heavy emphasis on using contractors and term employees, the result is that the permanent employee cadre are very homogenous in outlook and style of thought. Which is ironic, since the demographics are quite varied.

So, unfortunately, conformity is rampant, and divergent thinking isn't encouraged. Also, the dominant culture is one of brevity in speech -- "it is better to keep silent and be thought a fool, than to speak and remove all doubt." The result is a certain type of group-think, which is one of the reasons (I believe) why the organization was so easily defrauded by Countrywide and other bad actors who sold them completely bogus mortgages.

Advice to Management

Less group-think. Get rid of the "stacking" of employees -- just about everyone is highly qualified, no need to shave off the bottom 5 - 10% every year. It encourages unfortunate and sometimes vicious competition internally, to little purpose.

Fannie Mae Response

Feb 4, 2014 – Representative

Thank you for your feedback and we appreciate you taking the time to review the company. We will pass this along to Senior Management.

Other Employee Reviews for Fannie Mae

  1. Helpful (2)

    "First Time at Fannie"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Quality Analyst in Reston, VA
    Current Contractor - Quality Analyst in Reston, VA
    Recommends
    No opinion of CEO

    I have been working at Fannie Mae as a contractor (More than a year)

    Pros

    Working in HAMP Learned so many things, liked very much helping home less program.

    Cons

    Should improve Full time hiring process.


  2. Helpful (1)

    "Great company with exceptional benfits"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Analyst in Dallas, TX
    Current Employee - Senior Business Analyst in Dallas, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Fannie Mae full-time (More than 5 years)

    Pros

    Fantastic opportunities to learn and grown. Great compensation with incredible benefits that include all of the regulars plus matching 401k and a lot of vacation time.

    Cons

    Like any corporate environment, it can sometimes feel like buracracy rules the roost; but, that is on a team to team basis. If you get with the right manager, the environment is great.

There are newer employer reviews for Fannie Mae
There are newer employer reviews for Fannie Mae

See Most Recent

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