Freddie Mac Reviews | Glassdoor

Freddie Mac Reviews

Updated May 23, 2017
656 reviews

Filter

Filter

Full-time Part-time

3.3
Star Star Star Star Star
Rating Trends Rating Trends
Recommend to a friend
Approve of CEO
Freddie Mac CEO Donald H. Layton
Donald H. Layton
223 Ratings

656 Employee Reviews

Sort: Popular Rating Date

Pros
Cons
  • Too much micro-managing and senior management keeps changing every 3 to 6 months (in 29 reviews)

  • Work/life balance can be compromised at times (in 11 reviews)

More Pros and Cons

  1. Helpful (4)

    "Freddie Mac-African Americans beware!"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Financial Analyst in West McLean, VA
    Former Employee - Senior Financial Analyst in West McLean, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Ferddie Mac tries to foster a type of engaging workplace. Tries. I really feel they put an effort in. Unfortunately they have not been successful. Pros though: They have a generous downpayment grant for downpayment on a home-12K for closing cost or downpayment that is forgiven gradually until full forgiveness after year 5. It's a great program that allows folks to become homeowners.

    Cons

    Employees are not engaged. There are silos in the company. Imagine needing a report to get a your job done from another group, but that group refuses to give you the report. Then your manager would say, "well, they're not giving us any information, well we're not going to give them any information either!". It's amazing. You wouldn't think that it's one company sometimes. Promotions? Ha! If you are in the clique, expect frequent promotions. If you're not in the "cool group" or are a minority, GOOD LUCK! I'm not surprised that there have not been more frequent lawsuits against Freddie. For example: The trading group is made up of around 60 traders, and up until recently, there was only ONE single African American. This has just "April 08" changed to TWO.

    Advice to Management

    Wake up. With the turnover at the company something has to give. Also, try to figure out why so many African Americans leave the company. Why minorities are not put in positions of power. Why ICMA, one of the most attractive groups (high bonuses etc.) is an almost exclusive white male affair. Be proactive, and good luck.


  2. Helpful (2)

    "Abusive environment for employees"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Project Manager in West McLean, VA
    Former Employee - Project Manager in West McLean, VA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Benefits are great. Among the best in class.

    Cons

    Very abusive environment to the employees. Micromanagement by upper management. WAY too many controls -- no value added.

    Advice to Management

    Treat your highly paid, highly educated employees like the adults they are.


  3. Helpful (1)

    "Not a productive place to work."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Project Director in McLean, VA
    Former Employee - Project Director in McLean, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Good benefits and a nice campus.

    Cons

    Management has no respect for their employees. They are treated as numbers rather than names and management has no interest in recognizing good work with either dollars or promotions. Its all in who you know and what other company you came from. Too much of a buddy network at this firm. Noone trusts management from the director level on up, especially at the senior level. Senior management is some of the most disrespectful of all. They just do not care and are obviously sticking around just to pocket the money and leave the company in a shambles.

    Advice to Management

    Listen to your people!


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (2)

    "Freddie Mac STAY AWAY FROM IT!!!"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Director in McLean, VA
    Current Employee - IT Director in McLean, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Its a job and pays the bill, for now. It once was a wonderful place to work, the people were great and the job was rewarding, but now it is the most dismal place. the moment you walk in it sucks the life out of you. I have never worked in a place with such bad moral.

    Cons

    everything. Seinor Managment has their heads up their ass and have been killing the company since they got there!! It was a GREAT place to work but now it just SUCKS!! Everyone I know including myself are looking for jobs outside the company

    Advice to Management

    Senior Management needs to start understanding that the “people” are what made Freddie Mac a great place. Now they sit in their ivory tower (Dick shows up 3 to 4 times a year spending the rest of his time in New England) and have no idea just how they are killing the company.


  6. Helpful (1)

    "Avoid Freddie Mac if You Can"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Risk Director in McLean, VA
    Current Employee - Risk Director in McLean, VA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    There is a gym, a cafeteria, free parking, free sodas and coffee, catered lunches, smart people.

    Cons

    Lack of advancement opportunity for women and minorities, especially beyond a certain level. Serious problems with nepotism, favoritism and workplace cliques, Unwilling to permit telecommuting unless a person moves halfway across the country. Ideas are considered based on who comes up with them, not on their own merit.

    Advice to Management

    Try telling the truth. Employees are tired of hearing lies and talking points. Department heads should have appropriate experience, ability, work ethic and ability to lead and should not be chosen or have their positions protected based on marital relationship with other employees within the company.. Stop spending money on parties, limos and catered lunches. Focus on risk management instead of market share. Promote more women and minorities. Allow telecommuting when reasonable.


  7. Helpful (2)

    "Kiss your weekends goodbye."

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

    Pros

    Nice office environment, gym, wonderful cafeteria, indoor free parking. Job security in the midst of a crazy mortgage industry environment. The benefits package is excellent.

    Cons

    60-80 hour workweek with no overtime paid. No time for any personal life. Work time lost during vacation or sick leave must be made up on personal time. Everyone is constantly stressed out and dragging work home. Quotas are everything and management does not care what you have to do to meet them. The quotas keep getting higher for the same number of hours and the bonus plan keeps getting smaller. The decisionmakers are taking advantage of the job shortage and treating current employees like sweat-shop slaves.

    Advice to Management

    Allow prorated quotas for months when vacation is taken.


  8. Helpful (1)

    "1 Line of Code, 40 Hours of Documentation for SDLC and 20 Tickets of approvals"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Technical Analyst - Lead in McLean, VA
    Current Employee - Technical Analyst - Lead in McLean, VA
    Doesn't Recommend
    Approves of CEO

    Pros

    Good Benefits
    Good soup in cafeteria
    Central location
    For some jobs, family friendly
    lots of training opportunties

    Cons

    Pay has nothing to do with performance
    IT side are little more than cleaning staff, paid to keep the lights on
    Senior Management changes frequently and are currently unable to assess risk.

    Advice to Management

    Replace the Credit Risk department, how can we lose so much money, yet have the same people working their 9:30 to 4:30 shifts full day shifts?


  9. "American technical talent has been replaced with inidian immigrants desperate for green cards."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Tech Lead
    Current Employee - Tech Lead
    Doesn't Recommend
    Disapproves of CEO

    Pros

    They are always hirinig somebody, because people are always quitting.

    Cons

    - Overly rigid development process. Leaders unable to build software. Paper tigers. Many incompetent people protect their turf at the detriment of the company. Very Very political. The good smart developers have left and waht is left is the mediocre, go with the flow, types of develpoers that build software by committee and SDLC waterfall process. Last minute fire drills to complete ad hoc requests to statisfy questions by higher managers constantly interfact and distrorte the teams mission.

    Advice to Management

    organize by products and functional. Functional organization with matrixed employees is a disaster.

    or

    just give up and out source all software develpoment /design/testing/intergration to TaTa. Our existing management group is unable to handle software development, so just give up and let the Inidians do it.


  10. Helpful (1)

    "The appearance of progress is more important than actual progress."

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

    Pros

    I'm fairly compensated for the work that I do, and the benefits package is in some ways better than average. The people that I work with are nice people.

    Cons

    Senior management keeps saying that it wants the company to become more efficient and more effective, yet continues to ignore the management practices that would do just that. The company has a strong culture of "group think" masquerading as "consensus". Every attempt at promoting change is met with a demand by management that dozens of stakeholders are included in the decision-making, rather than permitting subject matter experts to structure solutions and make decisions, virtually guaranteeing a disappointing result. One might conclude that to senior management, the appearance of progress is more important than actual progress.

    Advice to Management

    Stop insisting on a "kumbaya" every time a decision needs to be taken or a process change is contemplated. Allow people who are recognized experts in that field or discipline to structure solutions, and then MANDATE usage.


  11. Helpful (1)

    "No that of a good place to work in"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Quality Assurance Analyst in McLean, VA
    Former Employee - Senior Quality Assurance Analyst in McLean, VA
    Doesn't Recommend
    No opinion of CEO

    Pros

    flexible hours
    you can do lots of chatting and work less if you good in hiding

    Cons

    micro management
    leads/managers who does not know what to do
    lack of people of communication skills
    if you are a contractor then expect to be seated as a goat with 1000s other in the same small farm

    Advice to Management

    get rid of the people you call leads and look for real strong contractors to hire them


Showing 656 of 708 reviews
Reset Filters