Countrywide

There must be something wrong with this business bacause they are always looking to hire new employees. When the turnovers are great, it tells you that management is not good and so do not waste your time applying in that company like Countrywide.

Look at their insiders. They are dumping stock at record rates right now. Any moron can see they are going to have a hard time.

I was hired in a class of 55 about a year and a half ago, now there are only 4 of us left.
Most where so disgusted that they left without even finding another job first.

Pissed said: I was hired in a class of 55 about a year and a half ago, now there are only 4 of us left.
Most where so disgusted that they left without even finding another job first.

Stop whining a find a new job. If there aren't any other jobs, then you should just focus on the fact that you even have a job. What a baby.

Michelle said:
Stop whining a find a new job. If there aren't any other jobs, then you should just focus on the fact that you even have a job. What a baby.

Find a new job--easier said than done. Trust me, I am looking for another job, and so are a lot of other people. The morale is so low in my office, almost half the people are looking. I'm glad I have a job, to pay the bills, but that's about it. Pissed in Tampa, good luck on your job search and hang in there!

Michelle said:
Stop whining a find a new job. If there aren't any other jobs, then you should just focus on the fact that you even have a job. What a baby.

'Baby' ? Someone is very disappointed and sharing their experience. Lighten up.

I know for a fact that Countrywide is outsourcing many of their admin jobs to India. Upper Management recently bragged to the corporate personnel, that the India staff has now grown to 1,000 people in Mumbai(fka: Bombay). If you call the internal help line for Human Resources, you get some one in India. Confidential customer information is on-line over there.

I have mixed feelings in reference to the "stop whining" and the "be lucky you have a job comments".I have recently been laid off and was approached by a Countrywide recruiter but I declined. I was recruited away from a job I had been at for 5 years. The offer was much more pay and only a few minutes from home, now here I sit, unemployed. Yes, be lucky you have a job, share your job search experinces but most of all, stay positive and hopefully an opportunity will arise. I'm still waiting and I have over 20 years in the lending industry from processing to underwriting to funding/closing. It's tough but we all have to weigh the pros and cons of any job offer. By the way, it was not Countrywide that recruited me, it was another company.

Right now I'm making 32,000.00. Is there anyone know if i would be making more doing inside sales for countrywide? anyone know how much do you start for?

I worked at Countrywide for 7 years and I know it's horrible. They pay less than other mortgage companies, and they break every HR rule in the book. The upper VP's and SVP's look the other and so does HR (if they want to keep their jobs). It was too much for me and I left. Best thing I did!
You are right that there is always a problem when the turnover at a company is high. And....they are hiring more and more people in India to eventually take over all the customer service which will put thousands of people out of work. In fact, the customer service reps in the states have been told to train those in India when they have a call. They have to stay on the phone with them so they can learn more.
CHL is in a lot of trouble stock-wise with the S&P 500 as they hired too many people too late for the big boom after 9/11 and grew too fast. They went from servicing 4 billion in December 2001 to 1.5 trillion by mid 2005. Too much growth over too small a time is a recipe for disaster and disaster is exactly what this company is headed for.
They lowered their training for CSR's from 30 days to 12 days and the SVP in Texas wanted to lower the time even more. The servicing is simply horrible but it is not the CSR's fault. The lack of training and the amount of work the Team Leaders have to do that have nothing to do with helping their reps get better is overwhelming.
Don't bother to complain to HR about anything. They're company people also and are afraid to lose their jobs. Scare tactics are what the higher ups know best. There are people there that are not on salary that are made to work overtime and told that they will not get paid for it either.
With all the lawsuits CHL has already have, I expect there are going to be many, many more in the near future.
I thought this would be a place I could retire. It used to be a very good company until they started hiring the higher ups from the outside instead of promoting from the inside. Too bad!

I, also, work for Countrywide but have a very different opinion of the company than the rest. I have been with Countrywide for 1 1/2 years and love the job, the company, the money, I recently received a promotion and plan to retire with this company. I don't know of anyone who works in the location that I do who dislikes their job. I'm sorry for those of you who have had bad experiences with this company. I'd have to agree that you should look elsewhere, being happy at work is so important. Good Luck. :)

EB---Simi Valley, CA said: There must be something wrong with this business bacause they are always looking to hire new employees. When the turnovers are great, it tells you that management is not good and so do not waste your time applying in that company like Countrywide.

---------------
There IS something wrong with that company. A few years ago, I worked for them in Tampa, FL. The manager was HORRIBLE to say the least. He was grumpy, crouchy just unpleasant and nasty. He never took ONE MINUTE to show me how their system works YET complained when you didn't use HIS CHOICE of words when adding compensating factors. It had to be PRECISELY the way that HE wanted it. He had no clue what a "gap letter" is and looked at me as if I am crazy when I used that term. He belittled me every chance that he had and talking to the department manager didn't help much either, his comment was "I know how Mike is, that's just him". After 3 weeks, I walked away, I couldn't handle the DAILY verbal abuse. Whenever you go to any job searching engine, you will find that Countrywide is CONSTANTLY looking for new underwriters. BIG, RED FLAG.

Pissed said: I was hired in a class of 55 about a year and a half ago, now there are only 4 of us left.
Most where so disgusted that they left without even finding another job first.

-------------------
you're still there ? how DO you do it ? is that incompetent mike still there ? he was a team manager and it seemed his only concern was to look prettier than any woman that worked for him. i remember, i took a file to him once that was on the edge, approve or deny. i wanted his opinion. he took the file and said "let me look at this guy's picture"...he flipped to the driver's license and when he saw that the borrower was of a certain race, he said "no, he looks like he would make money of dealing drugs, DENIED". there ya go. how 'bout that one ?

Wow! I just accepted a job with Countrywide as a Workout Negotiator...I thought this was a good company to work for?!?!?! Does anyone know anything about this position? turnover rate etc?

Underwriter said:
-------------------
you're still there ? how DO you do it ? is that incompetent mike still there ? he was a team manager and it seemed his only concern was to look prettier than any woman that worked for him. i remember, i took a file to him once that was on the edge, approve or deny. i wanted his opinion. he took the file and said "let me look at this guy's picture"...he flipped to the driver's license and when he saw that the borrower was of a certain race, he said "no, he looks like he would make money of dealing drugs, DENIED". there ya go. how 'bout that one ?

do you know anything about the Workout Negotiator position?

Workout Negotiator said:
do you know anything about the Workout Negotiator position?

------------------
i am sorry but i don't. i was an underwriter with them in tampa, florida. maybe your field is different and maybe they will treat you better. also, consider that it often depends on the managers that you work for. you may be one of the blessed ones. try it and see if it works for you. their turnover rate is IMPOSSIBLE that's why you see tons of ads from them looking for new employees.

I had one of the worst experiences of my life working for countrywide. I started as a temp, but was promoted quite fast..after a brief feeling of accomplishment, I found that every single person in my division only had a high school dimploma-no experience, and no college at all- and they were my superiors!! After working for them for a year with a minimalist paycheck (with a bachelor's), I got laid off four days after closing on my condo! I hate them.

IHateCW said: I had one of the worst experiences of my life working for countrywide. I started as a temp, but was promoted quite fast..after a brief feeling of accomplishment, I found that every single person in my division only had a high school dimploma-no experience, and no college at all- and they were my superiors!! After working for them for a year with a minimalist paycheck (with a bachelor's), I got laid off four days after closing on my condo! I hate them.

-----------------
doesn't surprise me, they are horrible people in the tampa office.

Yep, this co. is terrible. Find anotherjob. You will be happier, I was. Oh, the pay is low and they promise monthly bonuses but no one really gets them. It's a way to get you in the door. Most people that started in my class quit right after lunch. Does that tell you anything?

If you need the job, take it but keep looking for another!

LMK said: I, also, work for Countrywide but have a very different opinion of the company than the rest. I have been with Countrywide for 1 1/2 years and love the job, the company, the money, I recently received a promotion and plan to retire with this company. I don't know of anyone who works in the location that I do who dislikes their job. I'm sorry for those of you who have had bad experiences with this company. I'd have to agree that you should look elsewhere, being happy at work is so important. Good Luck. :)

----------------------
I am glad for you :).........As I said in a previous post, it probably has something to do with who is managing the team. You were blessed. I got so burned by them, just thinking about the short 3 weeks in Tampa still makes me cringe.

Cammy said: Yep, this co. is terrible. Find anotherjob. You will be happier, I was. Oh, the pay is low and they promise monthly bonuses but no one really gets them. It's a way to get you in the door. Most people that started in my class quit right after lunch. Does that tell you anything?

Why did they quit right after lunch?

Can anyone please be kind enough to share experiences about their AZ/ Chandler location? Thanks

So this seems to be a bad branch. How much would you say loan officers make on average a month? I have been told that it is a good job. Any comments?

Read this newspaper report at this link - read especially towards the end of the report which covers Countrywide's situation - don't say you have not been warned:

www.denverpost.com/allewis/ci_5404197

Stan said:
'Baby' ? Someone is very disappointed and sharing their experience. Lighten up.

Its a call center enviroment. You have to know that going into the position.
Call centers tend to be very strict when it comes to phone reps, and that is why people quit, they don't like to "micro-managed."
But in all seriousness, all the jobs i've had in the past, the call centers are the ones i stayed with the longest.

Here yet, another company who lures you into sending them an application, sets up a "lunch meeting", schedules you for ANOTHER interview only to tell you that you're not qualified because you don't have any "loan" experience. No, it did not happen to me but it DID just recently happen to a friend of mine. He was so disappointed and told me that he actually told the second interviewer "YOU CALLED ME, you KNEW I didn't have loan experience"... What a waste of time!

Countrywide will bring you in telling you their volume is through the roof and then lay you off a month later. Be wary now that they're merging with Bank of America. They are looking to lay off like 40% of their staff and bring them back as Bank of America employees and Bank of America's salaries are even lower then Countrywide's.

a very bad company

too many stupid fools there.

After 22 years in the mortgage business I too was lured by the Countrywide false promises and after 8 months of hard work, way too many MANDETORY MEETINGS, and personal marketing money spent thank god I told them to stick it. Management stinks and even a call to HR who stated they were SHOCKED at what I was telling them got no management response. And RESPA violations? Does a loan officer taking 3 realtors and their spouses to Hawaii draw a red flag? Well, Countrywide turned their head when it got reported. All they care about is money, bottom line. There are no ethics at Countrywide. Pay attention, there aren't many Countrywide employees with tenure.

Underwriter said:
-----------------
doesn't surprise me, they are horrible people in the tampa office.

Well I just got laid off and see that CW is looking for uw. but I am now skeptical of applying since 2 months ago they were looking at the same branch, it seems that they do have a high turnover.

Why did you call HR? What were the problems?

Underwriter said:
------------------
i am sorry but i don't. i was an underwriter with them in tampa, florida. maybe your field is different and maybe they will treat you better. also, consider that it often depends on the managers that you work for. you may be one of the blessed ones. try it and see if it works for you. their turnover rate is IMPOSSIBLE that's why you see tons of ads from them looking for new employees.

All mortgage companies have HIGH turnover.....it's a commission job.

Michelle in Seattle, Washington said: Stop whining a find a new job. If there aren't any other jobs, then you should just focus on the fact that you even have a job. What a baby.

I really hope that you are employed by Countrywide. Someone as cold hearted as you would be a perfect manager for them. They run the operation like a factory, counting your accomplishments for the day, and critizing if the number is low.
Calling someone a baby shows your lack of human compassion, so you should run to them for a job, they need cold hearted callous people like you.
Remember when they find someone nastier then you, YOU too will be replaced.

Touche'!

This is hands down the worst company I have worked for- they hire people in management who do not have a clue about mananging people, they count every minute you are away from your desk, are rude, nasty and most people are miserable. Upper management just turns a blind eye. Quit after 2 months in West Hills, CA. They have a specialty of promoting the worst managers. I have heard similar horror stories from 3 others who left for the same reasons after i left.

The one nice thing about countrywide is the day you resign- make certain its in one of their peak production periods; Heavily recruited by Countrywide, started as an AVP- I wasted 5 years of my career and life with the Tyranical Despots who are Branch Managers, Sr. Management, HR, Auditors, in charge of Countrywide-they do not work- you will and you will make them successful, wealthy, and lazy; You will work work work and work some more- you will never see the production bonus splits promised, you will not receive overtime or bonuses. You will give away your personal privacy and not know it- they spy on their employees via home phone and computers even if you don't use your home electronics to do their excessive work- read that again and get out - there are decent companies out there but also avoid ComUnity Lending-they reward fraud yes
and you must have their tyranical personality and like countrywide ComUnity lies start with the elite Sr. Management.

I'm conducting a project on the way big companies, mainly insurance and mortgage, exploit their employees so if you'd like to comment on your treatment, please let me know. So far I've found that being a parent, father or mother, works against the employee and the promises of bonuses are empty. There is also the threat of your job moving overseas so we (the workers) are competing against each other rather than demanding better treatment and of course, the money we deserve. This project is for my master's thesis and may turn into several small articles. As a former SBC employee (back then PacBell), I can attest the despotic nature of what we operators called "the dungeon", aka: our office.

LMK in Apache Junction, Arizona said: I, also, work for Countrywide but have a very different opinion of the company than the rest. I have been with Countrywide for 1 1/2 years and love the job, the company, the money, I recently received a promotion and plan to retire with this company. I don't know of anyone who works in the location that I do who dislikes their job. I'm sorry for those of you who have had bad experiences with this company. I'd have to agree that you should look elsewhere, being happy at work is so important. Good Luck. :)

that is great that you love your job. i have been here for 6 mos and beginning to hate it. not enough work for everyone i am one that needs lots of work. there are some other issues as well everyone is having issues here and management knows it.

Kelly in Raleigh, North Carolina said: All mortgage companies have HIGH turnover.....it's a commission job.

that is incorrect i am sorry. a lot of the jobs here are not commission

A Mortgage Professional in Palm Harbor, Florida said: Countrywide will bring you in telling you their volume is through the roof and then lay you off a month later. Be wary now that they're merging with Bank of America. They are looking to lay off like 40% of their staff and bring them back as Bank of America employees and Bank of America's salaries are even lower then Countrywide's.

who said they were merging? we keep hearing that they are not even considering it.

aley51102 in Dallas, Texas said: who said they were merging? we keep hearing that they are not even considering it.

Countrywide holds the paper on my house. They are very accomadating and we are completely satisfied!!!

I have worked for Countrywide for 3 or 4 months and I love my job, but I have become very good friends with my processor and she despises coming to work everyday!! It's all about your managers and it seems like the ones who have had the worst experiences have worked on the operations side. I will tell you that any time I have ever had to call HR for anything, they all have such heavy accents - I have a really hard time understanding anything they say. But branch support and technical support has always been extremely helpful. The money has been really good. And I too applied and waited to hear something, but when I didn't - I called the branch directly and persisted until I got an interview. The people in charge of hiring in corporate didn't really seem to be on top of things. And to anyone considering employment with Countrywide as an originator - just a hint - you can negotiate for a forgivable draw for the first 3 or so months and the amount of that draw is negotiable too. Don't accept the first thing they tell you!!

Countrywide is TURNOVER crazy here in Tampa. They go through so many people that soon there won't be anyone in Tampa left to hire.

They use temp agencies to advertise for COLLATERAL ANALYSTS and LOAN PURCHASERS. These are both horrible jobs with an insance amount of TURNOVER. Most people quit because the work is dehumanizingly robotic, team leads think the are still in high school, and the dept manager is a wicked nasty bit*h (in purchasing).

If you need a quick paycheck just take the one week class and quit.

Workout Negotiator in Fort Worth, Texas said: Wow! I just accepted a job with Countrywide as a Workout Negotiator...I thought this was a good company to work for?!?!?! Does anyone know anything about this position? turnover rate etc?

I am not looking to work there but I have to say they are very good about working with you if you are having financial difficulties and having problems making your mortage payments. The "workout rep" that I dealt with was professional and very helpfull and understanding.

I worked for countrywide for a year, when i first started there I thought that things were going to be great, a nice big corporation would take care of its employees....but the sad and ultimate fact was that was not the case at all. i worked in their corporate office in plano, tx on the servicing side of defaulted loans. the sr management was a joke, the individuals that they brought in to be lead's didn't have any experience in the area I was working in, they promoted people that didn't deserve it and demoted people who should have made it to sr management...i left after a year and went to another mortgage company...more pay, better benefits, less stress/over work, i couldn't be happier now.

Good for you! I know exactly how you feel. The same thing happened to me... but the only difference was that I was the only one in my department that had a degree, and the only one to get laid off. Talk about fair. Anyway, I am at a great mortgage place now, one that isn't run by illiterate chimps. Good luck and congrats.

jsworld in New York, New York said: I worked for countrywide for a year, when i first started there I thought that things were going to be great, a nice big corporation would take care of its employees....but the sad and ultimate fact was that was not the case at all. i worked in their corporate office in plano, tx on the servicing side of defaulted loans. the sr management was a joke, the individuals that they brought in to be lead's didn't have any experience in the area I was working in, they promoted people that didn't deserve it and demoted people who should have made it to sr management...i left after a year and went to another mortgage company...more pay, better benefits, less stress/over work, i couldn't be happier now.

where do you work?

I started there in October 2006 as a collateral analyst. I currently still work there but i was only of the few lucky ones to actually get hired after 4 months of being with a temp. I dont know how i got hired, why they choose me, but once you get hired full on, you still make your $12 an hour. They like to get rid of analysts who have been there a while and bring in new people who need to be trained. Its almost like countrywide is more interested in hiring people than retention. I probably hate my job more than anyone , but at least i have job security while i look for a real job. Future potential employees reading this, don't kid yourself when it comes to this job. I knew a few people who worked there who where in Iraq, they said this job was more stressful than the actual war!