Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com

Flagstar Bancorp Reviews

Updated 29 October 2014
Updated 29 October 2014
137 Reviews
2.5
137 Reviews
Rating Trends

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Approve of CEO
Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
43 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

Employee Reviews

Sort: Popular Rating Date
  1.  

    Company was once cutting edge - the changes in the market appear to have caught Flagstar wrong-footed

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

    I have been working at Flagstar Bancorp full-time (more than 10 years)

    Pros

    It was once a culture of growth and improvement

    Cons

    Very poor culture - discouraging place to work. Its suffocating

    Advice to ManagementAdvice

    The attitude at corporate is horrendous...and that negativity spreads to all corners of the company

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Decent company, little to no advancement

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

    I have been working at Flagstar Bancorp full-time (more than 3 years)

    Pros

    Training is very well run, the expertise of the staff provides exceptional insight to new hires. Bank Holidays are a very nice perk. Compensation is average with industry.

    Cons

    This company has legacy issues that have stunted its growth. This causes the working environment to have a lot of conflict due to lack of advancement. Additionally, a struggling housing market is causing multiple staff reductions.

    Advice to ManagementAdvice

    Management should encourage innovation within the company without fear of retaliation. This company is hurting itself by not letting its employees share ideas and encourage their creativity. A key concept of change is innovation and it is not rewarded, instead successes go unrecognized and feedback is discouraged.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3.  

    Management unorganized and lacked professionalism in the department.

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

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

    Pros

    Overtime available, bank holidays, and flexibility with schedule. Opportunities to move into different roles within department.

    Cons

    Lack of training and lack of leadership.

    Advice to ManagementAdvice

    Be honest with your employees.

    Disapproves of CEO
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  5.  

    Flagstar Busy

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp

    Pros

    Never had to work hard

    Cons

    Nothing to do. Not paid well.

  6.  

    Proceed with caution.

    • 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 3 years)

    Pros

    You get bank holidays off.

    Cons

    Too many to list unfortunately.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 2 people found this helpful  

    Things are improving

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

    I have been working at Flagstar Bancorp full-time (more than 10 years)

    Pros

    Senior level management is trying to make improvements. Things have been quite unstable for last several years, but it feels like things are looking up.

    Cons

    Mid level management has been around too long. No matter how much senior management tries to make improvements, mid level managers are stubborn and unwilling to change. Most managers at that level are only in their position because of seniority. They lack the skills needed to mentor their employees. We basically just do what we are told, so there is really no opportunity to shine and that is sad as there are a lot of brilliant minds at Flagstar. If only their voices were being heard.

    Advice to ManagementAdvice

    Senior management is doing good job communicating to their direct staff but it stops there. Spend some time to really evaluate your middle management team. Take the time to really listen to what people are saying and do something about it.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  8.  

    I learned the difference between wholesale mortgage banking and retail mortgage banking

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp (less than an year)

    Pros

    i was exposed to a lot of avenues to originate loans with real estate agents and I learned a lot of ways to originate loans from cold calls.

    Cons

    I was told when I was hired that Flagstar sent loans to other banks for service if they didn't have a program available for a customer but found out this was untrue...also at the time of my employment processing was very slow...may have improved by now...

    Advice to ManagementAdvice

    Be honest, assist new loan officers regarding mortgage products and dealing with clients...

  9.  

    Fantastic internship program!

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

    I have been working at Flagstar Bancorp full-time (less than an year)

    Pros

    As an intern, you are treated as an equal and they make sure to train you for the banking environment just as they would for any other role.

    At other companies, a peer was my mentor. At Flagstar, my supervisor was my mentor and she made sure that I was recieving the best experience possible by introducing me to technologies that would help to advance my career. More importantly, she was never too busy for me and was willing to spend as much time to help me gain an understanding as to what is expected. She wanted me to know what my role was and to be able to confidently talk about my tasks. This is not the type of internship filled with fetching coffee for the superiors and filing. They definitely expose you to important tasks that are meaningful to the company.

    Aside from learning my role, I was also encouraged to explore other roles by setting up short meetings so that I can watch their day-to-say activities. This is helpful for those who are undecided in what they want to pursue an advanced degree in because you have the opportunity to watch each role in a work environment opposed to classroom curriculum.

    I can't say enough good things about this internship experience. Not only do they want you to succeed while working for them, but also in your future career.

    Cons

    Very short internship (3 months) with no opportunity for job placement afterwards. No benefits.

    Recommends
    Positive Outlook
    Approves of CEO
  10.  

    AVP in the National Sales and Development Department

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

    I worked at Flagstar Bancorp full-time (more than 10 years)

    Pros

    I really enjoyed the work that I did and the people I worked with. They had great benefits that included, health insurance, vacation time, and 401K.

    Cons

    After working at Flagstar for 18 years, I was not able to advance any further within the company and due to downsizing, my position was combined with another area and my position eliminated.

    Advice to ManagementAdvice

    My advise to management would be better communication. They had a tendency to keep the companies financial position and/or plans amongst themselves, leaving those that were in jeopardy of loosing their jobs without an opportunity to find other employment.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11.  

    A company with out a clue on what it wants to do.

    Former Employee - Mortgage Loan Officer in Troy, MI (US)
    Former Employee - Mortgage Loan Officer in Troy, MI (US)

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

    Pros

    Centrally located and a great place if you want to just show up and don't care about a career

    Cons

    It is pretty much still trying to find a way to diversify away from being a mortgage company but is about 8-10 years too late.

    Advice to ManagementAdvice

    Strongly consider taking frequent surveys or feedback from employees since you will find out quickly about all the mismanagement you have.

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