Flagstar Bancorp
2.5 of 5 105 reviews
www.flagstar.com Troy, MI 1000 to 5000 Employees

Flagstar Bancorp Reviews

Updated Apr 01, 2014

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2.5 105 reviews

                             

57% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(21 ratings)

33% of employees recommend this company to a friend
25 Employee Reviews Back to all reviews
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  • Culture & Values
         
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  • No Opinion of CEO

 

Nice people nearsighted corporate planning

Anonymous Employee (Former Employee)

I worked at Flagstar Bancorp full-time for more than a year

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

ConsLow 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 Senior ManagementTreat 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.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Very unprofessional place to work

Anonymous Employee (Current Employee)
Bellevue, WA (US)

I have been working at Flagstar Bancorp full-time for more than a year

ProsGreat location - near restaurants and the transit center.

ConsManagement has no respect for employees.

Advice to Senior ManagementLook at who you have in management and evaluate their worth to the organization.

The layoffs of knowledgeable employees, most of whom were with the company for many years, has not been encouraging, and has brought morale way down. It's been pretty obvious that the long-term employees have been targeted by management. No one at the company feels that they can focus on their jobs. Every day employees wonder what changes are coming today and who will lose their job next. Very unsettling and creates a work environment of fear.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Busting my ass for a company that never recognizes it Mortgage loan closer

Anonymous Employee (Current Employee)

I have been working at Flagstar Bancorp

ProsPTO time and the cafeteria staff is only pros for this place

ConsNever want to hire within or allow employees to move up within. Poor pay, managers who micro manage your every move. Managers who won't take advise from employees on their every day work.

Advice to Senior ManagementPromote from within!!! Learn how to pay your employees what they deserve or you will lose GOOD employees. Get rid of the lazy staff who work only for a pay...not to make a difference

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Not a pleasant place to work, management is completely disorganized

Top Dog In Charge of Everything (Former Employee)

I worked at Flagstar Bancorp full-time for more than a year

ProsThe best reasons to work at Flagstar include: paid holidays, PTO, and since they are settling all their lawsuits maybe they will be bought out.

ConsA few of the downsides of working for Flagstar include: the offices being short staffed most of the time, constantly changing the high priority work, and declining most of the loan applications that take many weeks to process.

Advice to Senior ManagementGet your act together.... you are losing good people!

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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They manage by fear, intimidation and fear.

Branch Employee (Current Employee)
Detroit, MI (US)

I have been working at Flagstar Bancorp full-time for more than 8 years

ProsWorking hours have been shortened recently

ConsRetail banking offices are understaffed with only 2 to 4 people.

Advice to Senior ManagementPromote qualified current employees instead of hiring from the outside. They have had three CEO's in less than 24 months. Senior management is not supportive of retail branch employees. Many employees do not even get lunch as there are only 2 people manning a banking center. My advice to senior management,. get your head out of the sand and show some respect and professionalism

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Work there at you own risk.

Financial Service Representative (Current Employee)

I have been working at Flagstar Bancorp full-time for less than a year

ProsThe company try to get input from the employees of how to improve the company.

ConsThe company doesn't have a great reputation as a bank. As a bank I wouldn't say they are strong.

Advice to Senior ManagementI have none.

No, I would not recommend this company to a friend

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Employees as commodity

Anonymous Employee (Former Employee)

I worked at Flagstar Bancorp full-time for more than a year

ProsLet's see...commute was reasonable. Co-workers were nice folks, considering indentured servitude nature of the place. That's about it.

ConsTop 5
1. Radically excessive production goals.
2. Low pay to start with, absurdly low considering # hours necessary to meet goals.
3. Unclear delineation of responsibility (assistant level staff should have done more).
4. Incomprehensible management configuration.
5. Sloggy computers.

Advice to Senior ManagementConsider relying more on contract employees. Invest in training assistant level staff. Clarify management structure & underwriting standards to eliminate brokers shotgunning for the answer they want. Have IT install more RAM in office computers, or whatever is needed to make the computers more responsive.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Poorly Managed Company

Anonymous Employee (Former Employee)
Troy, MI (US)

I worked at Flagstar Bancorp full-time for more than a year

ProsIt bought me some time for my next career move.

ConsToo many to list here. It's a good idea for interested persons to find out for themselves.

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Worst place to work

Anonymous Employee (Former Employee)
Troy, MI (US)

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

ProsThere is no Pros I can say about this place

ConsManagement are downers, they like to punish employees, they are never encouraging. You are expected to meet or exceed quota of loans per day, If you don't meet they count it against you. Always sending out reports called QC on a weekly basis to show each employee mistakes, according to the loan officer these are learning tools not to punish you. Ha not true you are allowed only 2% error ratio per year on mistakes you make on a loan. Training is bad, instructor had no inkling clue how to train you, kept calling or asking other employees for answers. Felt miserable in this place daily, not a happy place to work. I plan on telling others please do not bank or work at this place.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Discouraging reality of managers who have no clue.

Customer Service Representative (Former Employee)
Bellevue, WA (US)

I worked at Flagstar Bancorp full-time for more than a year

ProsGreat co-workers, nice facilities and working conditions.

ConsManagement has no idea what their employees need to sufficiently assist the customer. They have great ideas, but don't know how to implement them. Most managers seem to dislike their job or really have no clue what their job actually is. We had a crew of 25 people and had 5 managers under that specific group. It's decent employment for people who need a job, not a career and no room for upward mobility. This is specifically directed at the Bellevue, WA branch.

Advice to Senior ManagementCome up with viable solutions that can be implemented immediately. Keep your employees informed of changes and what's really going on within the department and the company. Even if you don't like or understand your position, as a manger or lead, act like you do or step aside. Couldn't give you an approval rating on the CEO, since they change every quarter.

No, I would not recommend this company to a friend

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Glassdoor is your free inside look at Flagstar Bancorp reviews and ratings - including employee satisfaction and approval ratings for Flagstar Bancorp CEO Alessandro P. DiNello. All 25 reviews are posted anonymously by Flagstar Bancorp employees.