Fannie Mae
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Anonymous
| I worked for a hated company. Going into interviews it actually seemed like something they liked because the company was hated for very specific traits the employees had to have. |
Anonymous
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If you are joining the business side, it can be very good, there are pockets with flexible work schedules and the company is making money now. It will be around for at least another 3 years, maybe not forever but long enough to be worthwhile.
If you are joining the IT side be careful. There have been many layoffs, and most of the long term IT employees have been replaced with contractors/H1Bs. The morale sucks, most people are in long term work avoidance mode, little help, little risk taking, just get through the day. If you make it past 10:00 AM you know you haven't been fired that day. |
Anonymous
| Left there recently. Morale is low. I have reason to know because this is what I do; legislation will pass in 2015 and the companies will be wound down by 2020 or so. Especially if the Democrats keep the senate. If Republicans win the senate, it might be faster. So yes you have 6 years at least. The problem is bonuses will go down and salaries will go down in that interim. Any smart people left will flee. Imagine working for an entity on its death bed. Not appealing right? Morale will be lower because in essence you will be in a death watch. So yes they will be there at least 6 years but it will not be a fun place. |
Anonymous
| Morale is much better now than a year ago...basically the current plan is to "close" Fannie Mae and re-open with a different name, but doing essentially the same thing. Whether it will be private or full govt like FDIC is still up in the air. Obviously everyone there prefers it remain private, but time will tell. |
Anonymous
| Agreed. Morale is much better now and the expected ppl change would bring a new talent to company and it would help to redefine future strategy eventually. |
Anonymous
| I have an in-person interview next week for a management position in the IT department. Can anyone give me an insight how the interview will be structured? |
Anonymous
Are you Indian?? you have to be Indian or H1B to get a job at Fannie in IT now adays. Please report back how many Indians you talked to. |
Anonymous
Are you the same poster who seems obsessed with H1B people lately? I am a former FNM employee and there were plenty of IT managers who were not Indian. To the PP who asked the question about the interview process - I was not in IT so can't answer very specifically, but when I was hiring (finance/accounting), HR encouraged, but did not require, behavioral questions. Most of the interviews I conducted were mainly "traditional" (walk me through your resume/experience) with a few behavioral-style questions. I would prepare for both. GL! |
Anonymous
did they hire H1Bs in finance? probably not. the H1Bs are primarily in IT and Fannnie has lots! |
Anonymous
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BY ED | JUNE 24, 2013
I have been working as an IT professional for more than 30 years. I am now a contractor, bit every year since about year 2002, can not work a full year. I am lucky to find work 6 months out of a year. Soon, I wil also have to switch my profession, or take a huge pay in cut and find a permanent work in my home state (Florida) which has depressed wages anyway. I do not see a way out of my predicament. Indian workers are everywhere. Their work is shoddy at best. They are hired mostly as developers, because nobody can understand them, so many years ago I have decided to forget writing code in favor of more functional and project management. And still, I see favoritism towards the Indians. To make matters worse, now they have formed IT recruitment companies and now Indian hire Indians. Americans are shunned again and on much larger scale. I am so tired of this nonsense and totally helpless. Whom do I need to fight now – which system? I might consider writing to the congress,but really don’t have much faith. More than 30 years experience down the drain, not to mention all the education, etc. I travel all over the world in search of job,away from my family, but lately see the influx of Indian workers even overseas (Germany, Switzerland, Framce, Middle East). Can’t beat them. Their rates are 50% lower than mine, and they will always get employed or contracted before I do. Sad.One example – Fannie Mae in Herndon (Virginia) – near D.C. If you walk into their headquarters – all you can see is Indian workers – all of full time employees for sure and then on top of that contractors. [i]I thought that I was in a third world country – 5 story building and only myself and maybe a handful (perhaps 5) non Indian contractors working there. I am writing this just so that people are aware of what’s permitted in the U.S. On the other hand – in France – there are regulations where they will hire U.S. IT workers only after they have exhausted searching for French workers. This is the kind of law we need in the U.S. |
Anonymous
yes, they do hire H1Bs in finance. In Fannie, finance (as well as modeling and risk management) jobs are dominated by Chinese. |
Anonymous
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H1B Visa Holder Attempted Fannie Mae Sabotage – Where’s the Outrage?
A citizen of India, Rajendrasinh B. Makwana attempted to sabotage the computer database at Fannie Mae. He was, according to news reports, employed as a so-called temporary foreign worker who had been authorized to work in the United States temporarily under the provisions of the H1B visa that had been issued to him. This is the real threat to society, not the sinking of Fannie Mae. But the strange case of Makwana does bring up a number of issues. The main one is the use of H1B visa workers – and holders of other alien-worker documentation – in sensitive areas. Why was Makwana working at Fannie Mae in the first place? Are you telling me no American citizen could have done his job? This is not a new concern. It has long been believed that in most cases H1B visas in technology have been exploited by companies such as Fannie Mae only because programmers coming from India work cheaper. Read more: Family Security Matters http://www.familysecuritymatters.org/publications/id.2426/pub_detail.asp#ixzz31e4ILPRN |
Anonymous
Makwana was convicted on October 4, 2010, and faced up to 10 years in jail. He was sentenced to 41 months in prison on December 17 by US District Judge J. Fredrick Motz. Rajendrasinh Babubhai Makwana, 36, worked as a contractor with the home mortgage lender, better known as Fannie Mae, from 2006 through Oct. 2008. He was abruptly fired for writing an erroneous piece of software code that changed settings on the company’s Unix servers without proper authorization. Ordered to turn in his equipment and security badge on Oct. 24, 2008, Makwana, a foreign national from India, complied and returned to his workstation to finish out the day. His administrative access to the company’s 4,000 servers, however, was not terminated until that evening. In the interim, sometime between 1:30 p.m. and 4:30 p.m., Makwana created a potentially devastating logic bomb script that authorities claimed would have wiped out all of the home lender’s financial data, causing untold damage to the US financial system and erasing the mortgages of millions of homeowners. The software was set to auto-execute on Jan. 31, 2009 — but that never happened. Instead, on Oct. 29, a senior Unix engineer (Not an H1B!!!) found the code embedded below a legitimate script. The two scripts were separated by about a page of blank lines, according to a criminal complaint (PDF) filed with a US district court in Maryland by FBI Special Agent Jessica Nye. |
Anonymous
I am not Indian and not on H1B. |
Anonymous
Thank you for your reply. |