Countrywide

wow all these negative things lol. I have been working for Countrywide for 8 months now . Im working in the new building in Fort Worth Texas and love my job . The thing about the training is that mine was 3-4 weeks and I had no experience in being a loan officer . But like they tell you at the start you have to work your ass off and forget about everything the first 3 months. I did I worked 10-12 hour days. Its nice going in not being micro - managed and earning the fruit of your labor . The pay is great again if you work your ass off and can closeple a sale. it took me 5 months in to bring a nice paycheck around 6k instead of the $2400 if you don't make any sales. the month after that was 9k and this month was 12k . Once you are there for a while and hit your strive you bank , but you have to work hard and not be lazy . There is turn around , the only people I see go are the ones not getting any loans and closing a sale and have to be managed. If your a hard worker and are willing to put in the time then there is no question that you will make some nice $$. There is a whole lot of people including me making good $$$ in a time with prime is 8.25%

yeah right! things are good now- just wait a few more months ... the average tenure for a cw employee is 2.5 yrs..... i left a few months ago - glad i did. i was working in the banking deivision in fw - hated it! i now work for a real bank, that has experienced managers & employees. HR is great - they do not side with managers, they are fair....not like cw....

I was an VP in the Fort Worth office. Lasted 3 months, hated the last 1 1/2 months. The company doesn't care about employees, the laws or anything but making money. I took a pay cut to leave and have never regretted it.

former employee in flower mound - i agree! cw only cares for the bottom line! they also thrive on employees that know how to cheat the system...so that they are not caught, right under the radar. only friends and incompetent people wrok in the corporation. i, too, took a paycut. i would rather be happy living paycheck to paycheck than living so stressed out to the point where your health is affected.
good for us!

Former Employee in Flower Mound, Texas said: I was an VP in the Fort Worth office. Lasted 3 months, hated the last 1 1/2 months. The company doesn't care about employees, the laws or anything but making money. I took a pay cut to leave and have never regretted it.

You hit it right on the money: Countrywide does not care about employees! I worked as a Loan Purchaser in their Tampa officce and saw employees treated like crap everyday. All they care about is enforcing bigger and bigger quotas. In my department the average person lasts 2 months (not 2.5 years). It's like Countrywide loves to hire and fire people.

aley51102 in Dallas, Texas said: where do you work?

Do you know anything about Bellaire Houston office, always looking there.

Everyone keeps saying.. "They only care about the bottom line or making money!" They are a business!!! Of course that is what they care about.. If you know your job you shouldn't need someone to hold your hand!!
It's a base PLUS commission job.. You are going to HAVE to work!! That is all it is.. as with any commission job!!

If you like Countrywide, why are u on indeed?

With all of te negative PR Countrywide has in the public eye, you would think they would take great care to observe basic professionalism. They had me come out to their offices,go through security screenings and interview with multiple hiring decision makers THREE times. We are talking, I spent (invested) over 5 hours in their hiring process. Then I never heard from them again. Not a "thank you for your time", not a "you were not chosen", nothing. Now I tell everyone not to apply for work at Countrywide. They have a bad reputation and by my experience it is well earned!

Koston in Riverview, Florida said: 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!

hi in now work in the collateral department and i was wondering how often do they fire people and is because of their quotas?

thanks

I liked my temporary job at Countrywide in the mailroom. I worked there for 3 months and then my temporary agency called me and said my job was over. I worked so hard and got along with everyone. What a terrible thing to happen to someone who really wants to work and likes there job.

I worked in the Tempe Balboa Insurance mailroom as a temporary employee for 3 months. My temporary service called me and said my job was over. This was a total surprise. I was so upset because I really worked hard and made very little errors. I only wanted good for all the other employees and liked my job. Why did Countrywide cancel my contract? I really liked my job there.

lawrence wilson in Tampa, Florida said: hi in now work in the collateral department and i was wondering how often do they fire people and is because of their quotas?

thanks

People in Collateral are just like people who work in purchasing (next dept over) they simply disappear. I knew people in collateral..the management is horrible.

You need to tell everyone you know to avoid Countrywide.....

So will I be okay long as I meet my daily numbers

So long as I do my daily numbers I can keep my job?, also how long did it take for you to go perm?

Out of curiosity, does anyone know who Countrywide uses as their exclusive vendors for recruitment?

J in Alexandria, Virginia said: Out of curiosity, does anyone know who Countrywide uses as their exclusive vendors for recruitment?

They don't use just one company. They have multiple agencies fighting for their business. In Tampa, they use Remedy/Select Staffing, Appleone and a few other agencies that keep ads posted on Monster and Careerbuilder. They pay the agenices $3000 a month and then your agency give you a cut.

Do you happen to know who they use in the Illinois area?

Do you happen to know who they use in the Illinois area?

J in Arlington, Virginia said: Do you happen to know who they use in the Illinois area?

Why do you care? Do you work for a staffing agency?

Countrywide is a horrible company to work for period!

Whatever in Chicago, Illinois said: Everyone keeps saying.. "They only care about the bottom line or making money!" They are a business!!! Of course that is what they care about.. If you know your job you shouldn't need someone to hold your hand!!
It's a base PLUS commission job.. You are going to HAVE to work!! That is all it is.. as with any commission job!!

You are obviously clueless. The vast majority of CHL jobs are not commission based. Actually - I think you should apply for a management position at CW! You'd fit right in!

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.

I interviewed with Countrywide a couple of years ago, and their hiring process was incredibly unprofessional. Initially, I went through 3 sets of 2 hour interviews, including a written examination to test my analytical skills. Of course, they spaced each interview about 1-2 weeks apart. After having successfully "passed" each interview phase, I was informed by the recruiter, that the final interview would be with the Vice President of the division. I show up at the interview, and the VP is not there (busy at a meeting I was told). Instead, the Intern interviewed me. No kidding. About an hour later the VP showed up and said, "So, do you have any questions?". I couldn't believe it. After that, I never heard back from him or the Recruiter. This was a complete waste of my time and effort. About 10 days later, I wrote to the recruiter and explained what had happened with the interview with the VP. Never heard a thing again.

lawrence wilson said: So long as I do my daily numbers I can keep my job?, also how long did it take for you to go perm?

Even if you do your numbers, if the manager doesn't like you, get fired, I worked in that department too, anyway that department is a mess. And how long take you get perm? , they suppose now, hired you at 3 month been working with Countrywide, but is a big rumor, the going to lay off most of the contractor people, and maybe the whole company, who knows?

Countrywide is such a lousy company to work for that I cannot put it into words.

It makes me happy to read about all the pain they are going through as Wall Street investors are no longer buying their mortgage loans, analysts are downgrading their stock, and the company is losing tons of money.

It serves them right and is "just desert" for a company that only cares about production and treats their workers like s**t.

Countrywide is such a lousy place to work that I cannot put it into words.

I'm happy to read about the pain they are going through in this market. Wall Street investors are longer buying their mortgages, analysts are downgrading their stock, and the company is losing ton of money.

It serve them right and is "just desert" for a company that only cares about production, has horrible management, and treats workers like garbage.

Countrywide is an excellent company to work for. I can't stand people who spend all day running down a company that is no better/worse than any other out. Difference is, Countrywide gives people a chance ... a lot of them ... and only a few choose to stay and can handle it. Those who do, are rewarded. That's business. I'm three years and going strong, and don't plan on leaving any time soon.

I recently resigned as an account executive in the STL market. I funded a lot of loans and was on pace to do 80+ this year. Myself and another employee put in our notice on the same day, 7-31-07 for 8-14-07 and instead of honoring their commitment, I.E. they sent us home, when we said that we would work out our two weeks, they made our termination date 7-31 and cut off our bene. and now are refusing to pay owed commission and owed salery, not to menetion health ins. HR(in India) is terrible and the only satifaction that I have gotten is calling the Federal Wage and Hour Dept. and turning them loose. I would avoid this company like the plague..they will look for ways not to pay you

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.

Have you ever worked for Countrywide? I did for four years and left for health reasons.. and that reason only. If you have ever worked in the real estate/lending field, you know that the turnover rate is high PERIOD. It's ridiculous how the media latches on to something and people start freaking and talking trash like they even know what they are talking about. Get a life, get over yourself and don't taint the Countrywide company with your name.

Waiting until kingdom come! in Broomfield, Colorado said: 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

Should we pull up every news article on other large mortgage companies.. claiming the company is on the verge of Bankruptcy? You will find thousands and thousands of articles to that effect and will also find that each and every business mentioned is still operational. I worked for Countrywide for four years and left for health reasons.... I heard they were going bankrupt numerous times.. and surprise.. they are still here and aren't any less strong than Wells Fargo, Bank of America, etc... any company in this market is going to struggle a bit.. Wake up... Get the facts from somewhere other than the rumor happy media.

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

Merging huh? Lets see a factual statement to that effect.

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.

Hi Michelle - are you still with Countrywide in Seattle?

If you are at CW for any length of time, you find out quickly that if you are a temp in the mailroom, your time there is only going to be about 3 months. In fact, if you were ever transferred to the mailroom, you knew to start to look for another job! Don't feel so bad about it. It was destined to be. I was a Loan Coordinator in Tampa.

Good rule of thumb is that if someone is ALWAYS advertising and NOT expanding, it's a "revolving door" environment - no one stays or no want wants to.

Invariably, the employer will always say "we can't get good people."

They had good people and chased them away!

I've been in placement through Career Services and Staffing before that in Tampa Bay and have seen this PLENTY of times in the last 10 years.

I worked for Countrywide for almost 3 years originating loans in a call center in Plano, all A paper loans. When the market was good I made good money, worked Sat. and Sun. I put in my time because I wanted to succeed. What you're seeing and hearing in the news today did not just happen at Countrywide, I started feeling it last summer. The company started hiring so many loan officers, when the current loan officers were struggling to get loans and make monthly quotas. It is not a base salary plus commission. We got a draw on the 15th of the month and it was subtracted out of our commission on the 1st, so sales there is 100% commission. There's about 5 or 6 different things that you have to make the min. quota on every month or they start disciplinary procedures. They only care about you doing a loan, your numbers for the month, they don't care about the consumer and you trying to find the products thats right for them or in their best interest. And I was told to do whatever it takes to make it happen. Our rates and fees were the highest in town and borrowers shopped to get the lowest rates and fees as any consumer would do. I didn't lie to my customers, I was honest and truthful with them and helped the ones that I could. I wrote good quality loans but when Countrywide started getting in trouble before Christmas, they put more and more pressure on the loan officers. You're there doing your best and being threatened every month that you will be fired. How can you force someone to take a loan?

Job Search Dolphin in Tampa, Florida said: Good rule of thumb is that if someone is ALWAYS advertising and NOT expanding, it's a "revolving door" environment - no one stays or no want wants to.

I've been in placement through Career Services and Staffing before that in Tampa Bay and have seen this PLENTY of times in the last 10 years.

There is no such rule of thumb. With only ten years experience in business you are hardly a seasoned professional.

You have seen that in the one horse town of Tampa but the reality of the corporate world is that huge companies have people leaving, going on maternity leave, even dying at a rate where it is necessary to almost have a constant flow of new applicants. Promotions within such an organization are alone responsible for such constant hiring.

I hope countrywide goes under... they sold alt-a and subprime loans to people who could have gotten better... They committed FRAUD!!! in selling loans; and denied loans to people based on race. I pray everyday that they are shut down... They acted just like Enron did. Look at Mazio, the ceo, selling all his stock. They were money hungry, are still money hungry. THEY NEED TO BE INVESTIGATED!!!!!!!!!!!!!!!!!!!!!

Charlie in Warrenville, South Carolina said: There is no such rule of thumb. With only ten years experience in business you are hardly a seasoned professional.

You have seen that in the one horse town of Tampa but the reality of the corporate world is that huge companies have people leaving, going on maternity leave, even dying at a rate where it is necessary to almost have a constant flow of new applicants. Promotions within such an organization are alone responsible for such constant hiring.

You have got to be kidding- "horse town of Tampa"-

What the hell is South Carolina? I'll tell you it's a backward hick racist state that you fly over.

I'll have you know that as more people from the north move to Tampa, more and more big companies from are coming to Tampa. Can you say that for the South Carolina? I seriously doubt it!

Hey all- Countrywide have been sued by its employees again. Click below:

money.cnn.com/2007/09/12/real_estate/countrywide_employee_suit.ap/index.htm?cnn=yes

2003 Class action against Countrywide. Sweatshop working conditions and denial of overtime pay among other mistreatment. Click below

www.gdblegal.com/press.php?menuItem=5&article=26

Hey Everyone--

I have important news for Countrywide employees!

A class-action lawsuit has been filed on behalf of customers who took part in the company-matched 401(k) program. The suit claims that Countrywide executives misled employees about the financial health of the company, causing thousands of employees to lose millions in retirement savings when the company stock plummeted.

I am working on behalf of the law firm that filed the suit. If you or someone you know took part in the 401(k) program we would love to hear your story. To share your story, e-mail info@hbsslaw.com or visit www.hbsslaw.com/Countrywide_ERISA_pressrelease.htm for more information.

I took a temp position in 2006 in the Tampa office. I actually have a lot of finance experience, so the $12/hour was a huge pay cut for me, but I was trying to start a family and really looking to get started with a company that offered great benefits. I was a collateral analyst, and supposedly if you made your numbers, you could go perm after 3-4 months or even less.

I could tell right away that something was fishy when I started - people had to pass a test to get the job, but we started working weeks before they even finished grading the tests - that made no sense!

Our manager was an ineffectual idiot. The work wasn't hard, and I was making more than double my numbers, but I saw that even the people who were doing everything right were not being offered permanent jobs. People had been there for a year and longer as temps - even the woman TRAINING us was still a temp! It was ridiculous, and then they started forcing all of us to work overtime and on weekends to catch up for the slackers who weren't even coming close to getting their numbers. I remember hearing people say that they were intentionally slowing down during the day so that they could make some overtime money, even if that meant they were forcing all of us to stay. I've had some low-end jobs before, but I was just stunned by how stupid and unprofessional the management was there. I got out fast and never looked back. I would never want to work for a company who fails to notice and reward the hard workers as much as they did at Countrywide. I wonder if the Tampa jobs will be affected by the BofA sale.

I noticed the other day that the government, who helped start the outsourcing to India, is now concerned about the tax loss. It seems salaries are sinking for the middle class that actually pay most of the taxes. They may have to start taxing the wealthy business owners and upper management crooks who are currently receiving the only decent wages. Of course many of the polititians receive millions from them so won't that be interesting. Bath in your money now you might be hurting later on.