Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com

Flagstar Bancorp Reviews

Updated 10 December 2014
Updated 10 December 2014
141 Reviews
2.5
141 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
46 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

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  1.  

    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.

  2. 2 people 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
  3. 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
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  5.  

    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
  6. 1 person found this helpful  

    I've actually heard from someone that 'We work for peanuts...'

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

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

    Pros

    Everyone is pretty much friendly and tend to work and get along together quite often in my experience.

    Cons

    There are areas or departments where employees are quite under paid and takes long periods of time for small monetary increase , but management always expect for constant hard work and dedication.

    Recommends
    Neutral Outlook
    No opinion of CEO
  7. 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
  8. 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
  9. 2 people found this helpful  

    Not the best one.

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

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

    Pros

    Relative ease to get in.

    Cons

    Low salaries,lack of promotional opportunities, broken promises.

    Advice to ManagementAdvice

    Start paying people right ! Take care of your employees !

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 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 (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
  11.  

    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 (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

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