Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com
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Flagstar Bancorp Reviews

Updated 29 September 2014
Updated 29 September 2014
132 Reviews
2.5
132 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
39 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. 1 person found this helpful  

    Big Company, Small Mentality

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

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

    Pros

    I worked with great employees. The systems for account opening were pretty straight forward.

    Cons

    Flagstar had no clue how to gain new customers. Their marketing department was defunct as we would always receive new overly complicated promotions to have to market to our existing customer base. Alot of the promotional efforts were just trail and error as corporate would submit and pull promotions literally every other week. Way too confusing and frustrating when you are required to make sales goals. They were just a large company who knew nothing of how to attract new customers. Ultimately, we suffered with the added pressure of having to deliver our numbers. Was way too stressful for that reason alone and decided to leave after I was left without a Branch Manager for 3 months with no signs of help.

    Advice to ManagementAdvice

    Hire outside professionals to help market your products. Set realistic sales goals as online banking has kept many people from even coming into the branches anymore.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2.  

    Review of the company

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

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

    Pros

    The compensation as a loan officer is great.
    The company is very flexible with the hours for the loan officer.
    Management is very laid back

    Cons

    The company was unorgainized
    They did not set goals for loan officers
    They did not have many values posted around the company
    The managers seemed very lost in there roles, they didn't offer much guidance to the employees.
    It was very difficult for management to get anything done in order to keep customer service.
    The company does not offer any growth opportunities.

    Advice to ManagementAdvice

    Be more informative with the employees and have more meeting that execute on the discussion in the meeting.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    Lack of Communication

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

    I have been working at Flagstar Bancorp full-time

    Pros

    Flexibility, ability to learn through experience

    Cons

    Little direction and communication from management unless a negative event has occurred. Employee reviews are not reviewed with employee and compensation for jobs is unclear and unspoken among different departments.
    Instead of finding a solution to the problem negative nit picking occurs and a blame game starts instead of looking at the overall objective.

    Advice to ManagementAdvice

    Communicate goals and events when things are positive not only negative. If a expectation is expected make the goal and journey clear.
    Universally communicate among departments so that statistical financial findings can be analyzed to enhance process instead of trying to avoid blame
    Bullying is not a way to enhance employee performance.

    Doesn't Recommend
    Approves of CEO
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  5. 1 person found this helpful  

    anonymous

    • 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

    Pros

    Coworkers are like second family. great location. sort of relaxed environment depending on department

    Cons

    Too many hours, too many projects that are started and never finished, too many managers, difficult to move up within company

    Neutral Outlook
    Disapproves of CEO
  6.  

    Pretty good company to work for.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Personal Banker
    Current Employee - Personal Banker

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

    Pros

    Great benefits program. Work hours are extremely family friendly. Training available to those seeking it. Encouraged to handle customer complaints on your own.

    Cons

    Flagstar has little room for advancement. Management positions are held by longtime employees. The economy has resulted in layoffs in the company.

    Recommends
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    Full time employee over 5 years

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

    I worked at Flagstar Bancorp full-time for more than 5 years

    Pros

    *Benefits
    *Co-workers are like family
    *Excellent lunch room with restaurant

    Cons

    *Little room for advancement
    *Many managers have been promoted only because of time there and not because of skill
    *Company is reactive rather than proactive
    *Pay is on the low side for your position unless you are a hold over from the old regime.

    Advice to ManagementAdvice

    Please trim the fat. There are too many people that are complacent in their roles just going through the motions. You've lost good people due to cuts in the wrong places

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    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 for more than a 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
  9. 1 person found this helpful  

    Very unprofessional place to work

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

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

    Pros

    Great location - near restaurants and the transit center.

    Cons

    Management has no respect for employees.

    Advice to ManagementAdvice

    Look 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Former AE

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

    I worked at Flagstar Bancorp full-time

    Pros

    Flagstar is well known in the wholesale lending arena. They were one of the first to bring the concept of the emerging banker into the lending world, so they are very good at it. They have excellent technology as well.

    Cons

    They have recently laid off of bunch of individuals and the ownership is different now than when I worked there, so I am not the best person to speak on how things are now. It has been longer than 2010 since I worked there, however the system doesn't have that option. I am a stockholder though, so I still know what is going on to some degree there.

    Neutral Outlook
    No opinion of CEO
  11.  

    A very fast pace environment with growth potential, if you are willing to put in a lot of hours.

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

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

    Pros

    Ability to make a difference in a growing company.

    Cons

    Poor systems, weak infrastructure. A lot of manual work.

    Advice to ManagementAdvice

    People are the greatest asset - treat them with respect and they will do great things for you.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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