Fannie Mae Reviews | Glassdoor

Fannie Mae Reviews

Updated March 22, 2017
846 reviews

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Full-time Part-time

3.6
Star Star Star Star Star
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Fannie Mae CEO Tim Mayopoulos
Tim Mayopoulos
299 Ratings

846 Employee Reviews

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Pros
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More Pros and Cons

  1. Featured Review

    "Great place to work at"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Systems Analyst III in Reston, VA
    Current Employee - Systems Analyst III in Reston, VA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Fannie Mae full-time (More than 10 years)

    Pros

    Great benefits at Fannie Mae. Been here long enough to vouch for that. Support work-life, education, housing. The annual Help the Homeless evens are great as well

    Cons

    Nothing to complain about. Great place to work for. I have no complaints about working here. Management and co-workers are great to work with.

    Advice to Management

    Nothing


  2. Helpful (5)

    "Great compensation package, but not good for technical career advancement."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Software Engineer in Herndon, VA
    Current Employee - Senior Software Engineer in Herndon, VA
    Disapproves of CEO

    Pros

    Great benefits - there are no other local companies that can give you as much compensations with these benefits. You get an "forgivable" loan towards your first house which reduces in principal with every year of service, 25% each year. You get a month of paternity leave which you can use all at once or spread it over the year (e.g. take every Friday off). Flexible hours, work from home, but limited.

    Cons

    A lot of politics, the teams are very bulky - managers are just looking for "head counts". Too many meetings. Most people will tell you that consultants do most of the work, but there are a few great employees that always put in twice as much work than others. Fannie Mae doesn't believe in firing people - you can do no work for years, but as long as you don't break any rules (porn) then its next to impossible to get fired. This is good for lazy people, but bad for most people looking for advancement in career -- especially since most management believe that head count is better than quality or productive people.

    Advice to Management

    Make people accountable (really!) Demote managers that don't do anything. Try to get more subjective reviews of the team and put in place a fair guide to make everyone accountable. Give more emphasis to technology; get rid of all your contractor vendors - most of them don't give you quality people (in fact, I know of people forging resumes and cheating on interviews with help of the vendor!). Instead cut down number of contractors. Most of those vendors don't give a damn about their consultants, they only care about getting the margin! Take a good look at the vendor management department while you're at it. Get real on technical interviews, and hire more specialized recruiters. Lastly, biggest mistake - reorganize people solely by PROJECT. Get rid of WASSUP/FAST/ORACLE specific teams - or at least remove their power. These teams should be working for the project not mandating how the projects should fit in their model, instead give the project individual responsibilities about designing maintaining and delivering applications - use these teams just to do support work through instructions given by the project.


  3. "Used to be a great place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Developer in Washington, DC
    Former Employee - Developer in Washington, DC
    Approves of CEO

    Pros

    Solid company with great benefits, although I hear things are changing now.

    Cons

    Bureaucratic
    Promotions are not transparent
    Emphasis moved away from innovative strategies to just putting out the fire.
    Company has been penalized for the faults of few top executives

    Advice to Management

    None


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  5. "Fannie Mae is a great place to work"

    Star Star Star Star Star
    • 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
    Recommends
    Approves of CEO

    Pros

    the people, the mission and the work life balance

    Cons

    The incorrect information in the media - including this website that classifies the organization as "Government." Fannie Mae is a publicly traded company on the NYSE.

    Advice to Management

    Forge ahead


  6. Helpful (3)

    "Fannie Mae is a good place to work for a while, but don't stay too long."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate General Counsel in Washington, DC
    Current Employee - Associate General Counsel in Washington, DC
    Disapproves of CEO

    Pros

    Compensaton is generally good. Work environment is generally low stress and friendly.

    Cons

    The culture is very hide bound. Decisionmaking is concentrated at the very top. Promotions tend to be based as much on favoritism and personal comfort as on competence. Career advancement can be none existent.

    Advice to Management

    I'd say it's time for most of them to look for other opportunities outside the company. Many of the senior managers have been at the company for too long. Frank Raines and a few others left, but most of the folks who gave us the accounting scandal and now the melt down in our stock price due to ill advised forays into the Alt A market are still at the company. Current senior management is very reactionary. They seldom act proactively to avoid crises. They look for short term fixes for immediate problems, even if those fixes create more problems down the road.


  7. "Generally speaking: Good place to work if you want to work your 7.5 hours and collect your paycheck."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Project Manager in Washington, DC
    Current Employee - Senior Project Manager in Washington, DC
    Doesn't Recommend
    Approves of CEO

    Pros

    Work life balance. Most people arrive late and leave early and still get their jobs done.

    Cons

    Very difficult to advance your career. Lower / midlevel staff have no incentive to excel.

    Advice to Management

    More career advancement opportunies by way of more job levels.


  8. "Nice place to work, but for how long??"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in Herndon, VA
    Current Employee - Manager in Herndon, VA
    No opinion of CEO

    Pros

    Good collaboration on projects I have been on.

    Cons

    In current environment, no job security especially for contractors. Contract extensions are done at the last minute, so one spends a few weeks working at the same time looking for another job until the end-date or an extension is granted. Not a win-win situation.

    Advice to Management

    More diversity in workforce needed.


  9. Helpful (1)

    "In flux"

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

    Pros

    very strong benefits package and reasonable hours

    Cons

    internal politics and confusing place to work; frequent reorganization; your immediate manager and team will determine whether your experience at Fannie Mae is miserable or great, or something in between.

    Advice to Management

    take a hard look at who is needed - there are too many contractors and people working there that don't earn their keep and don't seem needed working on unnecessary projects. questionable pay practices with some employees receiving sales commissions, employees of same level/duties with wide range of pay/bonuses, etc.


  10. "Use to be a great place to work."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Analyst in Washington, DC
    Current Employee - Senior Business Analyst in Washington, DC
    Disapproves of CEO

    Pros

    The benefit is great. There is a balance between work and home life. When starting you career here after college Fannie is a great place to learn alot.

    Cons

    Tons of politics. Depending on the division you work in, there are some competent managers and some not.

    Advice to Management

    Need some new blood within the company to generate new ideas. If an employee cannot do their job need to take action to fire.


  11. "saddened by takeover--BUT not surprised"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Director in Washington, DC
    Former Employee - Director in Washington, DC
    Disapproves of CEO

    Pros

    The mission is important. to many that come to work a Fannie Mae. The company has good benefits. Depending on the department, there is usually good team work among peers.

    Cons

    Senior management has been out out of touch with the company's main reason for being-mission/ prudent affordable lending. Company managed and run by a few who have held on for many years--all multi-millionaires. Promotional opportunities are based on who you know and not what you know.

    Advice to Management

    New management should take time to listen to employees concerns. They have been the same over the years , with little improvement. Assess head-count based on need and employee performance. Create a transparent path for career growth.



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