Countrywide Employees?

ABC News is working on a story looking at the subprime mortgage industry and Countrywide Financial. If you are a current or former employee of Countrywide and are interested in sharing your experiences, please contact us.

http://abcnews.go.com/WN/story...

Countrywide home loans is hell on earth!
They treat theyre employees as if we are working for an illegal sweatshop!

It is really bad for the operations. They work you until you have a nervous break down or start crying in front of your computer. I wanted to go POSTAL!!! Thank GOD they laid me off. Towards the end i was praying that they would get rid of me than to continue in those conditions.

I was a Colorado Countrywide/KB Home Loans Employee and part of the workforce reduction layoff. I have a lot to say. I was the only employee out of 23 employees, that did not receive any bonus payouts.
I had more tenure than anyone and trained my upper management. I was promoted twice and never received anything close to what the management was making, as new employees. They received bonuses of $114,00.00 for end of year and 40 to 50,000 qrtly bonuses. I was laid off Oct 11th and they hired someone else in my place. They said they couldn't keep me unless they had 1000 loans.
They hired someone with 400+ loans in the pipe. They did fraudulent loans and made everyone pull the numbers, in order to receive their upper management bonuses. I was promoted twice and yet only receive 1 merit increase in 3.5 years.
I was given letters of reference and promised the highest of references to any potential employers and I learned 3 1/2 months after looking for work, that the mgrs. were instructed to give no references for any employee.
Needless to say, I stopped using that reference letter. It isn't worth the paper it was written on! I witnessed 95% of all loans to be unworthy borrowers and the loans still had to be done, no matter what incentives had to be given, to acheive those high dollar goals.

CW's management team is so crooked I'm surprised their buildings don't lean over. Brenda Brewer in the Legal Dept is just one example. If I were upper mgmt, I would get rid of that woman before she gets the company in huge trouble with the Department of Labor. She's good a looking innocent...but if you dig a little you will find so much dirt you'll need to (and WANT to)take a bath.

Nobody talks about the sub-prime arm of Countrywide which was Full Spectrum Lending. I managed an office for three(3) years and found so much distortion in the underwriting that it was sick. There was no consistency and management pounded and hounded to get the job done.
Someone should begin to investigate the tactics. There was never any quality reviews and there was special department that handled all exceptions. 90% to 95% of all loans approved were exceptions!!! Someone should review the Equal Credit Opportunity Act and see how these exceptions were legal.....across the board there was no consistency...

To give you any idea the way the employees are treated at Countrywide. After three years and being a so called "top producer", I found out I'm terminated on a Friday night. Home working for free, again, I tried to access my email and when I called HR because it would not work, was told by a call center in India that we were closed. To make matters work, my compensation for May was finally paid and about 1/3 of what it should have been and when I call to find out why, I get India, and am told they can't discuss it. Severance- they won't discuss that either. This is unbelievable.

I am in ops and I keep getting told we are ok...but they keep taking away my underwriting authority. How am I ok if they keep taking my job authority away??? I am scared and confused on what is going to happen to my job. I don't seem to be getting any stright answers. all my questions are danced around.

you are all idiots, I still worl for CW and love it. Just becuase you suck at what you do doesnt mean the company sucks. I love CW and love being a part of BAC.

22 years in the industry. Never have I worked for a company that so much a house of cards it is almost unbelievable. Profits due to fraud, no controls, and ultimately, a management team that would throw any subordinate under the bus to save themselves. I will be happy when BOA cuts even more of the staff of countrywide, closes branches and puts regional and divisional managers out on the street. They will be working at Walmart after that happens. Hale, Rogers, Gissenger gone after 3 months who is next. If I were a manager at Countrywide today, I would buff up my resume and practice "paper or plastic"