Thread regarding Fannie Mae layoffs

Fannie Mae is indeed laying off Employees

Fannie Mae started a round of Layoffs on March 5, 2015 when they laid off over 300 employees company wide. The head of HR's statement to the Employee's! (Do not tell anyone except close immediate family that you have been laid off!)

OH come on, like I am not going to tell anyone? Now that is a Ridiculous statement. After these layoffs, the Glass Door site had at least 3-5 postings a day from anonymous employees in the DC area giving the company 5 stars and saying how wonderful it was to work there and the CEO was great, etc. That is soooo wrong.

Right now as of September 4, 2015 the appraisal review dept in Dallas has basically NO work, the remaining employees are sitting there clicking next just looking for a loan to review and hoping upon hope that they DO get laid off.

More layoffs ahead as Fannie Mae is moving to use their product CU or Automated Certified Licensed Appraisers, they get to save big bucks in employee salary’s

Fannie Mae's Credit Managers in NUC in Dallas are a joke! They are all friends and that’s how they got hired

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Post ID: @OP+DjoXGAA

5 replies (most recent on top)

This is in regards to a comment from (1 year ago by Anonymous185869 | Post ID: @DjoXGAA-SxzO)

about : The overtime pay was instituted going back two years, and people who were already laid off were still paid overtime for the prior two years, as were current employees.

I was laid off and did NOT receive over time pay.

I had recently been approved and accommodated as an American with Disability (which was encouraged by my manager), however the software for my issues was not compatible with my old laptop. They kept telling me, i would get a new laptop and the day before the lay off, i was told outright everything was ok! Well the manager lied and when being escorted out, I stopped to talk to the HR manager and get this, she did not even know I had been approved in DC by HR as an American with disability. When filling out the severance package it stated that if you sign this you cannot go back to them for any reason ( can not sue, can not do any thing to FM) Well I crossed out the one page and initialed it that by accepting the severance this would not include the American with disability Act and that I was wrongly laid off. I then went straight to the American with disability in DC EEOC and filed a complaint, and after 11 months of back and fourth they meaning Fannie Mae provided a falsified page from my severance package. The EEOC told me I could not do any thing about it. There is so much politics within management about passing through bad appraisals that its not even funny. I have so many emails and reports from my 5 1/2 years but I cant afford a lawyer

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Post ID: @9yedf+DjoXGAA

The company is one of the best as far as salary and benefits but the politics and cruelty of people that work there is straight hell. Mean and spiteful management and African American employees are treated with less respect than dogs. This place is no place for educated black women to succeed because they will not allow it. The rolling joke amongst the few minorities that had worked there was that ole Fannie Mae was the plantation. In the Valuations department alone there may have been 5 black people and maybe a couple Latino American that worked in a department. If you could read or write you were better off taking your time, talent and education elsewhere.

Management is not educated and you can tell that white privilage has paid off very well for them. And they take bullying to a complete new level from the 360 peer reviews to promotions. There are so many ethics violations in the Valuations Department that I am not surprised no one has sued for discrimination. There is some funny business going on when full time employees are replaced with long time friends of the director with no education or decent work experience to lead with with confidence.

The best thing for this company would be to shut down completely and if you get out of the mortgage profession then good for you! You'll be better off.

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Post ID: @6Pxeh+DjoXGAA

Actually the last post was incorrect in regards to overtime paid to employees who were laid off. The overtime pay was instituted going back two years, and people who were already laid off were still paid overtime for the prior two years, as were current employees.

Fannie Mae employees are advised that the only constant is change. I know that several mid level executives were recently laid off in the last week. Senior management is constantly looking for ways to save money, yet still maintain their purpose. The staffing level is reasonable at this point. I have been very sorry to see some very talented people lose their jobs at Fannie Mae in the last eight months. That being said if the senior management does not consider how to improve things on a regular basis then they would be inept. I do anticipate that there will be more layoffs at Fannie Mae as they pull together the completion of the mess that prior management got the company in to. It is very stressful working at Fannie Mae, but it in many ways is an excellent company to work for. That being said I would still feel that way even if I am laid off in the near future.

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Post ID: @SxzO+DjoXGAA

Fannie Mae is about to layoff employees again in December of 2015. This company is raking in billions while destroying people's lives. This company paid employees off last year for overtime they never paid employees for years and then once employees were paid laid them off. Nice!

This company is horrible and if they layoff more employees congress should put them out of business. I have often wondered if this company along with others like it have been living off of taxpayers for years and the taxpayers don't even know it.

All the employees should just quit all at once and Fannie Mae would be out of business. Sad day for employees of this company....

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Post ID: @RHXm+DjoXGAA

Revised paragraph: sorry it did not copy over correctly.

More layoffs ahead as Fannie Mae is moving to use their product CU or Automated AVM’s, No need for Certified Licensed Appraisers any longer, they get to save big bucks in employee salary’s

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Post ID: @eCW+DjoXGAA

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