Fannie Mae Reviews | Glassdoor

Fannie Mae Reviews

Updated December 14, 2017
965 reviews

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3.6
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  1. Helpful (1)

    "Once a good place to work."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Financial Analyst in Washington, DC
    Former Employee - Senior Financial Analyst in Washington, DC
    Doesn't Recommend

    Pros

    The benefits were top notch. The company is located in Upper Northwest and as such there is free parking.

    Cons

    Most of the managers had little training on being a manager. During restatement it was a complete zoo. In many of the groups the consultants were running the show. They were being paid 50, 100, 300 dollars an hour. Most of the consultants had to be trained by Fannie employees making considerably less. They charged Fannie Mae to learn new systems and skills that they took to there next assigments. Many of them were totally unethical, charging the company to learn things that they should be learning on their own dime.

    Advice to Management

    Don't go on vacation, because many people would be able to do your job.


  2. Helpful (2)

    "Not for those with a conscience..."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Manager in Dallas, TX
    Current Employee - Senior Business Manager in Dallas, TX
    Doesn't Recommend
    No opinion of CEO

    Pros

    There are some good people who are very creative and try very hard to implement sound processes, poor things...

    Cons

    As others have described, all the creative minds with any good sense leave within a few months. There is a Fifedome that reigns within the Dallas office among a few directors and unfortunately they chase off anyone who gets in their way. Good luck to the talented!

    Advice to Management

    It would be nice if the upper management would take a closer look at the director level to ensure they are capable of leading people, developing people and have genuine people skills...

  3. Helpful (2)

    "Corporate Finance area poorly run and managed"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Financial Analyst in Washington, DC
    Former Employee - Senior Financial Analyst in Washington, DC
    Doesn't Recommend
    No opinion of CEO

    Pros

    Pay
    Vacation
    Benefits
    Name recognition
    Resume builder
    Pay
    Vacation
    Benefits
    Name recognition
    Resume builder

    Cons

    Unfair review system
    Favoritism
    No Advancement opportunities

    Advice to Management

    The entire corporate finance division is poorly managerd. Direct managers have no power and your review is based primarily on if the Director "likes" you. When the department decides to weed people out, they go above and beyond to tarnish and damage an employees name to either drive them out and or fire them.

    It is well known throughout the company that the finance group is not an ideal place to work within the company. Turnover is extremely high forcing the department to fill needs via contractors.


  4. Helpful (2)

    "Stay away. Company dying"

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

    Pros

    The benefits are ok. The difference is the money they gave you for buying a house. The money can only be used to buy a home. So, if you have a home, forget it.

    Cons

    Management has no clue and the only communication is weekly emails of irrelevant garbage. There is no Teamwork because it goes against the force ranking. The workplace is about "who you know not what you know". The culture is based on dishonesty. Do not be fooled by HR propaganda. The company is done.

    Advice to Management

    Get your resumes ready. You will be looking for a new job.


  5. Helpful (3)

    "Management is inefficient, hierarchical, self-promoting, unethical and abusive"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Portfolio Manager in Dallas, TX
    Current Employee - Portfolio Manager in Dallas, TX
    Doesn't Recommend
    No opinion of CEO

    Pros

    - High profile company
    - Good managers do exist, however are passed up for promotions based on image and favoritism
    - Pay is great though grotesquely excessive considering the financial insolvency of this GSE that heavily contributed to the economic crash by providing easy-access (minimal diligence) finance for housing. The organization enabled our US housing prices to spin chaotically out of control as a result of this corporations mortgage liquidation mission statement.

    Cons

    - Reporting on delinquent loans, from inventory and REO (Real Estate Owned) properties to performing loans has an unexagerated lag time of 45 days. This is a painfully unacceptable delay.
    - Sr. Management's major priority is to drive all managers to provide reporting in a 75 slide power point presentation. This monopolization of our time paralyzes operational efficiency by sacrificing critical time needed to execute strategies and halts all efforts to achieve resolution of the millions of loans that need attention.
    - Ego leads the pack as does the cannibalistic self-promotion at all levels in most teams
    - The shameful lack of internal departmental coordination is a constant threat to the operation's effectiveness. This segregation of departments ranging from accounting to legal, sales to servicing and so much more, will result in heavy losses at the expense of our nation's taxpayers and investors.

    Advice to Management

    Clean house, survey all employees, reduce middle management, get aggressive with results, free managers from outdated reporting PPT graphs, charts, analysis, and required presentations that hurt operations, escalate stress, and stunt progress.


  6. Helpful (3)

    "Once a Great Company now flushed in t.."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Washington, DC
    Current Employee - Anonymous Employee in Washington, DC
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Great Salaries, Locations, Office environment

    Cons

    Bureaucracy, Fat Confused Management. Ridiculous Performance Management process. High politics, No growth ( Only way to grow is to push and play games )

    Advice to Management

    We Americans need this Company. Please save it


  7. "Before taking a contractor job there, proceed with caution"

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

    Pros

    alot of great people work there but the company sucks overall. word word word word word word word word word

    Cons

    they will try to turn you to a term position for less pay, no respect, substandard benefits, and a boot to your but 2 years down the road...oh if you get sick or in a car accident, they will fire you1

    Advice to Management

    treat the term employees fairly, give them disablity and a chance for advancement...it is killing morale. Also, if you ask someone to give up their lives to do special project, your ass better be there late too

  8. "Disappointing"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Analyst in Washington, DC
    Current Employee - Business Analyst in Washington, DC
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Helping people obtain and sustain homeownership.

    Cons

    Management is weak and overpaid.

    Advice to Management

    Management is well aware of the issues, but there is no action toward resolution.


  9. Helpful (2)

    "Chance to learn about securitization and MBS within a government-like workplace"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Washington, DC
    Current Employee - Anonymous Employee in Washington, DC
    Doesn't Recommend
    Disapproves of CEO

    Pros

    You get the chance to learn about one of the "hottest" products in finance - MBS. The culture of FNM is very government-like wherein many people work 9-5 and there is ususally early release the day before holidays. As long as you finish your assigned work you will be free to determine a schedule that works best for you (unless you are in an accounting role).

    Cons

    Fannie is extremely siloed in that different groups do not communicate efficiently/freely, resulting in a good deal of duplicity in analytics and effort. Because of the continued public scrutiny and ongoing debate surrounding FNM's future structure there is always a sense that things are being "paired down" and directors need to justify their groups resources/staffing by pointing to the quantity (rather than quality) of work that a group does. The government-like culture also comes with a great deal of bureaucracy.

    Advice to Management

    Clarify the future state of the organization to employees, rather than making ongoing logistical/title changes to different groups without any real (expressed) justification. Detail management's intention regarding cutbacks/streamlining so people are able to focus on performing at a high level instead of worrying about the possibility of layoffs.


  10. "Fannie mae has no business ethics and the people dishonest."

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

    Pros

    Pay and Benefits but with that is happening. The benefits are just on par.

    Cons

    Dishonesty and the back stabbing. Performance reviews are are horrible. The worst thing they just assigned me an end date of Octoberr 2011. Be sure to ask your HR rep of your end date.

    Advice to Management

    Get some skills. You will need for the job market.


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