Flagstar Bancorp

  www.flagstar.com
Work in HR? Unlock Free Profile

Flagstar Bancorp Reviews

Updated Jul 23, 2014

Be The First To
Add Photos

All Employees Current Employees Only

2.4 121 reviews

58% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(33 ratings)

32% of employees recommend this company to a friend

Review Highlights

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

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

121 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Good company

    Anonymous Employee (Current Employee)

    Proswork close to home and love the customer networking

    ConsNo career development plan for a person who desire to transition into a different department.

    Advice to Senior ManagementProvide better career development mapping.

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Lots of excellent people to work with. Unfortunately the company was very unorganized which could be difficult.

    Loan Closer/Funder (Former Employee) Troy, MI (US)

    ProsLots of excellent people to work for and a reasonable pay. There was pressure to get things done but management was understanding. They were also pretty flexible, I was also a college student at the time and they allowed me to leave early on multiple occasions to study and make it up later.

    ConsI had a difficult time growing there because there seemed to be lacking room for growth.

    Advice to Senior ManagementOrganize the company and create a corporate culture that encourages learning and personal growth

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Don't trust em!

    Loss Mitigation Speciaist (Former Employee) Troy, MI (US)

    ProsNice office setting, and working with people that are pretty cool. The pay is competitive and hard to come by. Breaks and lunches can be taken when the worker wants in most departments.

    ConsLayoffs, and outsourcing- provides no stability- No telling if you are on the chopping block!

    Advice to Senior ManagementChange the slogan if jobs are being outsourced to Texas! It's no longer "In Michigan and for Michigan"- and stop lying to customers- Flagstar is not taking the calls or servicing the loans.

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

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    Many futile attempts to get back on course...

    Information Technology (Current Employee) Troy, MI (US)

    ProsThe job pays well, benefits are decent (they were better), a good place to get some "on the job" experience. You get all the bank holidays, and every Friday is a $2 jean day, with donations going to some local charity. Employees will vary rarely be let go for incompetence: good for the employee, but just another sign of poor management. The current CEO actually seems to care. He may not tell the whole story, but he's been mostly truthful in his town hall meetings and has attempted to provide monthly voice recordings on the state of the company through the employee's internal web site.

    ConsMany issues with company performance has led to multiple changes in upper management over the last several years. Even though the current CEO is trying to get the company back on course, there is a lot of leftover "garbage" in place. Middle management seems to have their own agenda, not wanting to participate in change or provide assistance, which in the end should help everyone. Some employees have been pulled aside for not meeting quota, and others for going over quota when there is not enough work to go around: just excellent example of "be average or you don't belong." And then mandatory overtime is implemented when there is again too much work; great if you're paid hourly, but bad for salary. It's gotten to the point where some salary employees have been told not to clock in anymore. Interaction between business groups is minimal, causing tasks to be done over and over due to lack of information, which would have helped to get something done right the first time. Some teams apparently feel superior and provide no assistance, and face no consequences in doing so. While some of this has slowly began to change, it is still a huge problem when attempting to complete a project that requires multiple internal resources. Middle management seems to have found a work around by hiring in contractors and "off shore" personnel when these tasks could just as easily have been done internally if some backbone were in place to better manage the employees. Thus, we now have wasteful spending when the company is looking to save money. In order to offset that cost, raises are minimal, promotions few (unless you're a manager), money is hidden / stolen from other projects, and there is usually a yearly employee layoff between Thanksgiving and Christmas to make the stock look good. Happy Holidays for those who are let go during this time...

    Advice to Senior ManagementMiddle management needs to be better supervised and/or cleaned out. Some of these managers came from a time of about 10 years ago when the company had its own internal management training program, the proverbial "blind leading the blind." New ideas from new middle management would help instead of relying on previous methods that has brought the company to its current situation.

    No, I would not recommend this company to a friend

    1 person found this helpful  

    For the most part, the experience was good especially in the beginning.

    Anonymous Employee (Former Employee)

    ProsThere was an increased emphasis in training and it's good to be exposed to some training that doesn't necessarily involve your job.

    ConsThere were too many levels of management and not enough communication throughout. And often changes in upper management in the last 3 or 4 years. It's difficult for me to recommend Flagstar as a good place to work anymore.

    Advice to Senior ManagementInvolve everyone so they feel part of the process.

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Worst place to work for

    Project Manager (Former Employee) Troy, MI (US)

    ProsThe commute wasn't bad at all

    ConsEverything; but especially senior management!

    Advice to Senior ManagementListen to your employees.

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    job just to bring home money

    Senior Subject Matter Expert (Former Employee) Troy, MI (US)

    Prospaycheck and easy job. Get money without much efforts

    Consnegative employees and negative environment, Too many rude people.

    Advice to Senior Managementget rid of negative employees. Your problem is the location. Troy is not a good location to attract talents.

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

     

    Underwriter

    Anonymous Employee (Former Employee)

    ProsNice supervisors and regional managers

    ConsUpper management give very poor career advise and are ungrateful.

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    A mishmash of slop

    Anonymous (Former Employee) Troy, MI (US)

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

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

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    interesting

    Analyst (Former Employee) Troy, MI (US)

    Prosbalance and time off was good

    Constoo many changes in cfo, ceo

    Advice to Senior ManagementStop changing executive management

    No, I would not recommend this company to a friend

Worked for Flagstar Bancorp? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.