Pros
Great company benefits such as 3% loan for house down payment, educational benefits up to 10K annually.
Cons
Corporate culture is lousy. Has a tendency to put the wrong people in the wrong positions. Chronic cronyism. No relationship between work performed and compensation. Warning, Fannie Mae has a problem of putting people managers over technical teams. I had a Manager who did not understand Information Technology and could not provide technical leadership to her team, but was performing performance evaluations. High Turnover in company. Professionals accustom to working in a high disciplined environment with high caliber professions might be discouraged. Company has a tendency to lay off people before they reach tenure but abrupt restructuring.