Countrywide Financial Salaries, Bonuses and Benefits.

What are the average starting salaries, bonuses, benefits and travel requirements like at Countrywide Financial?

What do you like best about working at Countrywide Financial? Are there any great perks or special treats for employees?

I worked for Countrywide at the IT department. It was not a good experience. It was the worse company I ever worked for and I have been in this business for 15 years. I heard the same comments from many other people who worked for Countrywide. The managements, the culture and their benefits need an upgrade. I have nothing good to say about this company.

I worked there "off and on" for over 13 years. They lay off and then hire new people. No "great perks or special treats" - just hard work, no perks unless you are a boss' favorite. EXTREMELY political. No loyalty, no merit based increases. No, I'm not really bitter - hey, it's life; just can't believe how calloused they are. Oh yes, base pay...it WILL be BASE. You won't get rich there unless you marry-up.

Countrywide ex-employee said: I worked for Countrywide at the IT department. It was not a good experience. It was the worse company I ever worked for and I have been in this business for 15 years. I heard the same comments from many other people who worked for Countrywide. The managements, the culture and their benefits need an upgrade. I have nothing good to say about this company.

That is so true. I worked there for three years and I had really bad experience too. You should be a bully, or suck upto boss or should have very close relative or friend in higher management to survive. It is not a place if you like your work.

You guys trust me it doesnt get any better at their Tampa office. They don't care about you. The team leaders and managers all speak to you like you are a child. My coworker was told to "shut up" last week by our new manager Joneice! We arent children! It is a whole nother ball game in their Imaging Plant. i can't unnderstand for the life of me how they let any and everybody handle such personal information like social security numbers, addresses, etc... I hope they close down before I quit because they suck! Not to mention they told us that as soon as 3 months was up we would all be permanant and that never happened. Trust me NO ONE SHOULD WORK FOR THIS SLAVE SHIP!!!!!

current employee said: You guys trust me it doesnt get any better at their Tampa office. They don't care about you. The team leaders and managers all speak to you like you are a child. My coworker was told to "shut up" last week by our new manager (*name removed)! We arent children! It is a whole nother ball game in their Imaging Plant. i can't unnderstand for the life of me how they let any and everybody handle such personal information like social security numbers, addresses, etc... I hope they close down before I quit because they suck! Not to mention they told us that as soon as 3 months was up we would all be permanant and that never happened. Trust me NO ONE SHOULD WORK FOR THIS SLAVE SHIP!!!!!

Treat like kids? Most parents want only good for their kids. Most bosses at countrywide, are sadists.

They strongly believe that, "Productive employees deserve PIPs". "Butt kissers deserve promotions".
Performance reviews and bonuses are no way related to performance. Managers are allowed to do any thing they want to do.

They have no clue what the purpose of a status meeting is, "They think it is a place for bragging about one self and criticising others and stop any one else from talking."

The company culture strongly encourages wasting money, time and efforts. I think the real losers are the stock holders. Millions of dollars are wasted as a result of such "culture". There are no chances of improvement. I wonder how the company will make profits and survive as the mortgage market is slowing down.

I was wondering what positions you held with Countrywide? I'm in NC and I'm considering a Loan Processor position. I really trust the contact I have there and would be working as her Loan Processor, but from the things that are listed here, I'm giving it a second thought. But I know being a Loan Officer is hard work and VERY competitive, so maybe that's some of the positions you guys held. It would be a great help. I'm meeting with her today.

Kelly said: I was wondering what positions you held with Countrywide? I'm in NC and I'm considering a Loan Processor position. I really trust the contact I have there and would be working as her Loan Processor, but from the things that are listed here, I'm giving it a second thought. But I know being a Loan Officer is hard work and VERY competitive, so maybe that's some of the positions you guys held. It would be a great help. I'm meeting with her today.

I am from a totally different field.Thought these tips will help,
1) Do you have any contacts higher up (not the immediate supervisor - usually they are the ones who will put you in trouble.) who can help you grow or help you when you are in trouble? (if yes, it is a big plus)
2)What type of personality do you have? I was sensitive, highly productive employee, can do all my work with least assistance, not the type "who will market one self a lot". For me it was hard to survive there. I have seen other employees who "seek credit for others work, ideas, suck upto bosses a lot(street smart type), bully other team members and at the end do not contribute much to the project." It was lot easier for them to survive. You will be part of the crowd and can easily survive.

3) I have seen many cases, where managers make false promises with no intentions to keep them. It happend in my case and another friend who was highly productive. Once the employee realizes that the promise is false, (the promised time line is past but you are not promoted)managers come up with scare tactics. (Putting you on false HR Cases etc).
HR reps will not be of any help to you. They support only the bully managers.

Do not believe in promises they make. "If you decide to join, make sure that you are happy with the pay and the title today. If you deserve better pay or title do not compromise"

4) Do you alrready have a job where you are treated well? (I would not leave it.)
Hope this helps.

no, I'm currently unemployed, but out of all my options this seems the best offer. I'll be paid more than my previous job. I don't think you could be treated any worse than I was in my previous position. I was talked down to, looked at like I was scum, never given additional reponsibilities, never told I was doing a good job, promised to be making double within 3 months, but they knew they couldn't do it when they offered it at the interview, illegal activity that the higher ups just passed over. It was the must frustrating environment that I'd ever worked in. I hated coming to work and if it weren't for my family I would have quit a long time ago, but I have a responsibility to them. The contact I have is a Loan Officer that works for them and I'd be her processor. Also, I know people who have worked with this branch and say they like the LO and the other processor who I'll be working with. I'm just trying to make an informed decision.

Based on what you said, you like the pay,people (your manager and at least one team member).

If I were you,I will try for two or three months and then review to see if every thing is going well. If I like the pay, work and the way I am being treated, I will stay if not I will start looking.

I think like anything else, a large portion of your job satisfaction depends on where you are in the company and what you are doing. I worked for T-Mobile for 3 1/2 years and left hating it; A few people from my team went into T-Mobile sales and loved it, one even said she was surprised to find there was a good side to T-Mobile.

Anyhow, in my relatively short time with Countrywide I have thoroughly enjoyed it. Everyone in my office is upbeat and friendly and in my first month as a loan officer (following training) I made about $5500. My only prior loan experience is what I picked up when I bought my house a few years ago.

If I can simply maintain my momentum, then I have more then doubled my previous salary. Safe to say, I love Countrywide :)

I did great the first couple months too, then when Marikay Enders saw I was getting a piece of her pie which she had promised to get me to join Countrywide, the door slammed and I was thrown to the pavement. She then attempted to steal a customer by putting them in the system under her name. Glad you are doing well Justin but watch your back and keep your options open.

From what I've found, the mortgage industry is VERY cut-throat. Unfortunately, people do unethical and immoral things so that they can make a buck. It's not how I would work, so maybe that's why I've never done sales. I think you can make a living being honest, but I think it's harder. :)

i'm a manager and can't take it anymore. my reps are lazy and just don't get it. i'm broke now and have a huge mortgage with kids...countrywide has made my life miserable and broke...don't let it do the same for you...

TD

I've worked for countrywide for about 2 years now. I've seen A LOT. It's a very corporate environment ALL about numbers and production. If you don't produce you're worth nothing to them. They have decent benefits. Never any perks or bonuses. If you're going to work as a processor, keep in mind you are a pawn. You'll get paid the bare minimum and if need be will be moved around like a chess piece from branch to branch without consulting you. You'll find you'll be working much more than you're getting paid for. If you're salaried, you'll get close to nothing in pay with a joke of an evaluation process that will never amount in a raise. If you're commissioned you'll be getting taxed a little over 40%. Example: I'm salaried at $26,400 with a $1500 "bonus" each month. Which would gross me at $44,400. After all taxes, bare min. of 401k contributions, medical, and dental, i end up at $28,200 a year. No joke. I'm currently looking for another job. The posting above who said he brings in about $5500 a month, he probably actually made about $15k-20k and after taxes ended up with $5500. Oh, and not to mention, if you are a processor, you'll end up with a bunch of LO's who have no idea what they're doing. Leaving you to structure the loan just to see them get OVERLY paid for being morons. For some people it works though. No chance of moving up though or any sort of raises.

Well thanks for all the information. It's helpful. I have not received a call back from her boss yet. It is the end of the month so maybe that's why. I'm wondering though....

I am considering an Account Executive position with Countrywide.

1) Can anyone tell me what the average
starting salary/commission would be?
2) Is it negotiable?
3) What kind of hours do you work?
4) Can you make 60K+?, 70K?

Inquiring in Tennessee in Knoxville, Tennessee said: I am considering an Account Executive position with Countrywide.

1) Can anyone tell me what the average
starting salary/commission would be?
2) Is it negotiable?
3) What kind of hours do you work?
4) Can you make 60K+?, 70K?

Did you start as an account exec... did you find out how much they start?

Interview and was offered a position at Coutryside in Plano, TX a few years ago. I was shocked at how low the base pay level was. I had a highly successful track record in sales and much higher earnings elsewhere. Also, the application ask for every job ever and for an explanation of every break ever. If you've been in the workforce very long and moved for companies or group down-sized with companies this detailed info. is rediculous.

Run from this company...they will make you false promises and never come through..the base pay is very low and it takes about 3-6 months for LO's to see any commission at all..and as you get your commission checks they will find every excuse possible as to why your commission wasn't what you thought it would be...my experience was that the management was awful and expected you to work tons of overtime even when as a LO you were making very little money and it wasn't worth your time..

Has anyone worked in IT or developer for this company located in Plano TX? What were your experience like?

CHL in Roseland, NJ is another Sweat Shop!!! It's all about #'s ,and they treat you like dirt if you don't hit your #'s The way management and the Ae's speak to people like they are 2 years old stinks. We are human beings, not robots or dogs. Countrywide should learn how to treat their employees and maybe we will be able to do our jobs better. I was a contractor for almost six months, I was offered a job starting in the fall,however someone just hired as a contractor 2 months after me was hired in my spot. Then I get this freaking phone call tonight 8pm nj time to state I'm no longer employed, and
I can't step foot back in the building to retrieve MY stuff. They can keep their company and the crap that goes on there is ridiculous!!!!!!! I feel for anyone who thinks that this Company is good. Think long and hard with all these comments posted on this web site before you really decide to place your resume with this co.

Just so you all know, stay away from Indymac (Indysmac), they are all from CW and have the same culture. Indysmac (mgmt) is full of greedy liars, the employees are treated like trash and made to move bad loans forward. I am ashamed of the mortgage industry. I've been an appraiser for over 15 years and was most recently a Sr Review Appraiser for IndySmac. Stay away from these people, they will use you and spit you out. It is disgusting.

I just left FSL and I can tell you the company is folding. Look at the layoffs in the news today. If you go for this job you will be taking on TONS of baggage. Soon there will be no sub-prime lenders at all. I just took a LO job at a bank where I have multiple branches and I set my own hours. Look for something more like this.

I just saw something on the internet that everyone might appreciate. It's a company called Glass Belly Buttons. They even have a Butt-kisser's Glass Belly Button. They send them to anyone you want anonymously!! LMAO. I worked for CW in Tampa - what a joke! Thought about (for a half second) of chekcing out CW in AZ -but I'm too burned out on them. Going to buy me a half dozen Glass Belly Buttons though. Wihs I was a fly on the wall so I could see their faces when they got them.

Susan in Dallas, Texas said: Has anyone worked in IT or developer for this company located in Plano TX? What were your experience like?

One of the wost experiences I ever had, and I have over 30 years in IT: 4 years at Countrywide. I could detail so many things that I experienced there that you would not believe, but what's the point. My only advice is if you don't know someone who has worked or is already working there in IT, DO NOT go to work there.

Kids? in Frisco, Texas said: Treat like kids? Most parents want only good for their kids. Most bosses at countrywide, are sadists.

They strongly believe that, "Productive employees deserve PIPs". "Butt kissers deserve promotions".
Performance reviews and bonuses are no way related to performance. Managers are allowed to do any thing they want to do.

They have no clue what the purpose of a status meeting is, "They think it is a place for bragging about one self and criticising others and stop any one else from talking."

The company culture strongly encourages wasting money, time and efforts. I think the real losers are the stock holders. Millions of dollars are wasted as a result of such "culture". There are no chances of improvement. I wonder how the company will make profits and survive as the mortgage market is slowing down.

You must work for my ex husband. See my post under HR dept is horrible.