Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com

Flagstar Bancorp Reviews

Updated 9 July 2014
Updated 9 July 2014
135 Reviews
2.5
135 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
41 Ratings

Review Highlights

Pros
  • Some good people who mean well, but quality leadership is sorely lacking (in 7 reviews)

  • Competitive pay, normal hours, good benefits, good PTO, opportunity to move up (in 5 reviews)


Cons
  • And often changes in upper management in the last 3 or 4 years (in 7 reviews)

  • Flagstar has little room for advancement (in 4 reviews)

More Highlights

33 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Worst place to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Project Manager in Troy, MI (US)
    Former Employee - Project Manager in Troy, MI (US)

    I worked at Flagstar Bancorp full-time (more than an year)

    Pros

    The commute wasn't bad at all

    Cons

    Everything; but especially senior management!

    Advice to ManagementAdvice

    Listen to your employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    A mishmash of slop

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous in Troy, MI (US)
    Former Employee - Anonymous in Troy, MI (US)

    I worked at Flagstar Bancorp full-time (more than an year)

    Pros

    Some good people who mean well, but quality leadership is sorely lacking.
    Good pay

    Cons

    Takes forever to get approval for anything. Also, most people are so siloed that working between groups to accomplish anything was a nightmare. Also, the "old way" vs the "new way" was a constant struggle. Constantly changing executive team also leads to lack of sirection.

    Advice to ManagementAdvice

    Listen to employees. You have a lot of talented people, but have a need to ignore them and hire consultants for everything.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3.  

    Underwriter

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp

    Pros

    Nice supervisors and regional managers

    Cons

    Upper management give very poor career advise and are ungrateful.

  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review
  5. 1 person found this helpful  

    Management lied consistently, too many layers of VP's. Title does not correspond with job ability at this bank.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Trainer in Troy, MI (US)
    Former Employee - Senior Trainer in Troy, MI (US)

    I worked at Flagstar Bancorp full-time (more than 3 years)

    Pros

    A paycheck is about it.

    Cons

    Managers misled their own employees. Bank can't attract and keep top talent is not willing to pay for good talent. HR department is poorly run and consistently lied to employees. Too many CEO changes within last year which indicates poor executive leadership.

    Advice to ManagementAdvice

    The problem is they didn't listen to anyone while I was there and caused more fires than were needed.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 2 people found this helpful  

    Company does not have a clue where it's going and how it's going to get there.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Branch Management - Assistant Vice President in Grand Rapids, MI (US)
    Former Employee - Branch Management - Assistant Vice President in Grand Rapids, MI (US)

    I worked at Flagstar Bancorp full-time (more than 8 years)

    Pros

    Flagstar bank has some extremely loyal employees who love what they do and wants this company to succeed.

    Cons

    The retail banking side of Flagstar is very unfocused. Weekly, if not daily focus is changed on a dime with no thought on how this affects the customer and it's own employees. Market managers are unwilling to listen to their own employees as to what the front line is hearing from it's customer base and when things are brought to middle managements attention it is just ignored. Market Managers use fear as a motivation, although this may work in the short term it will ultimately come back to haunt you in the end.

    Advice to ManagementAdvice

    Flagstar Bank used to be a place where the "open door policy" was actually that. Start listening to the people on the front lines and pay attention to how your Market Managers are treating your branch managers and front line employees. Sandro, you are a fantastic leader but have lost focus on the retail banking side. Look closely at who you have running that part of the ship, you may be surprised at what you find out. Lastly, bring back the good ole days when we enjoyed walking in the door every morning instead of this fear that this may be your last day of employment because of your micro managing Market Mangers with no heart or soul.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  7.  

    The higher the skirt, the higher the promotion!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Retail Banking in Jackson, MI (US)
    Former Employee - Retail Banking in Jackson, MI (US)

    I worked at Flagstar Bancorp full-time (more than 8 years)

    Pros

    There are a lot of good people, but also a lot of fake people. Be careful!

    Cons

    The fake and disingenuous people get the promotions. From hidden job postings to job postings that are only up for a few hours, even HR is in on the act. For every awesome person working hard, there are two lying and cheating to become the boss's favorite.

    Advice to ManagementAdvice

    Cut the crap. Require EVERY single job to be posted for at least 14 days and make sure everyone in the department knows so the best candidate can be found. Be honest with your employees and quit back door dealings that screw other people over.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    Big Mistake ...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp full-time (less than an year)

    Pros

    I don't have anything good to say about Flagstar. Just moving on...

    Cons

    The worst time of my 20+ year banking career.

    Advice to ManagementAdvice

    Sell the Bank.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 1 person found this helpful  

    Unprofessional Bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Regional Manager in Detroit, MI (US)
    Current Employee - Regional Manager in Detroit, MI (US)

    I have been working at Flagstar Bancorp full-time (more than 5 years)

    Pros

    There are no compelling reasons to work at Flagstar Bank other than yoy receive a check every two weeks!

    Cons

    Sandro DiNello our current CEO is very phony and does not deal well with subordinate employees. He is scripted in his dealings with most employees and is only interested in his well being.

    Advice to ManagementAdvice

    Sandro, you should just sell the retail side of the bank and concentrate on the wholesale mortgage business as you have no clue how to operate a successful operation. Your competitors like Comerica, Chartwe One, TCF have class, you and your bank have none!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 1 person found this helpful  

    Stay away!

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp

    Pros

    If you are in the right dept you can do well if you keep your mouth shut and do your job. You can learn a lot and get a better job with better pay!

    Cons

    When times are busy they will hire anyone with a pulse. Then layoff all the new hires and then some. Layoffs were not based on performance. Management was given a list of who they had to get rid of. So even if you played your cards right, never called in, were efficient at your job it didn't matter. If you were on the list from hr you had to go. You are just a number. I will never recommend this place. They are going through CEOs left and right and the newest one is doing nothing for morale. Also from a consumer standpoint their checking and savings accounts are awful compared to their competitors.

    Advice to ManagementAdvice

    Do some research with banks and mortgage companies in the area and take some tips on how to keep good employees. Lots of great companies out there and flagstar is not one of them

  11.  

    Nice people nearsighted corporate planning

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp full-time (more than an year)

    Pros

    Employees are nice with a positive mentality
    Decent benefits
    401k plan offered

    Cons

    Low compensation
    No promotional value
    Company is very short sighted- tends to fix the immediate damage instead of what caused the damage in the first place, then look the other way until the situation seems impossible again

    Advice to ManagementAdvice

    Treat your employees better. Higher salary = more satisfaction with job = better quality of work. easy. Also, there's a lot of preaching about values, but management doesn't seem to adhere to said values. Management should be an example.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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