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Flagstar Bank Reviews

Updated 13 May 2017
82 reviews

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3.0
Star Star Star Star Star
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Flagstar Bank President & CEO Alessandro P. DiNello
Alessandro P. DiNello
26 Ratings

82 Employee Reviews

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Pros
  • Several good people there, but hurt through severe silos, political playing and very large turnover (in 13 reviews)

  • Great co-workers, they are trying to turn it around and increase morale (in 6 reviews)

Cons
  • Upper management micromanages to the extreme (in 11 reviews)

  • There is little room for advancement and the leadership is constantly changing goals (in 5 reviews)

More Pros and Cons

  1. "Mortgage Loan Officer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Flagstar Bank full-time

    Pros

    -Reasonable income
    -The company is working to do things the right way
    -Small bank feel

    Cons

    -Lots of systems that clunk up the process
    -Processes are not effective in some respects
    -Difficult to find answers to problems

    Advice to Management

    Start from the bottom and make sure the little things are being done correctly. Management is trying to push the bank in the right direction, there are minor details that are continuing to slow growth and success.


  2. Helpful (1)

    "My Time at Flagstar"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend

    I worked at Flagstar Bank full-time

    Pros

    Co workers are like family, training (improves sales) career advancement and customers

    Cons

    Understaffed offices (since 2011), pay isn't great (you wear many hats, so imagine doing a job meant for 3 people) and very stressful (due to the aforementioned).

    Advice to Management

    Invest in office staff (overworking your talent will send them packing).


  3. "Senior Loan Officer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Loan Officer
    Former Employee - Senior Loan Officer
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Flagstar Bank full-time (More than 3 years)

    Pros

    Great Web-based Orgination Platform. Relatively good UW turntimes. Good referral lead volumes.

    Cons

    Pay Cuts Repetitive - took every opportunity under Dodd-Frank to reduce front line performers compensation.


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  5. "Relationship Banker"

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

    Pros

    Benefits and paid time off

    Cons

    Pay isn't very competitive, training could be better


  6. Helpful (4)

    "Grow eyes in the back of your head"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Flagstar Bank full-time (More than 5 years)

    Pros

    I work for IT and used to love my job. I was engaged. I honestly looked forward to getting in early each day to get things done. I was absolutely loyal to my job and my immediate leadership.

    Cons

    I don't have that enthusiasm anymore. It was taken away by a paranoid, incompetent and meddlesome narcissistic management team who are more concerned with kissing business butt, their own advancement, and outsourcing jobs than putting out a good reliable product.

    Advice to Management

    Your IT department is in disarray, Sandro, and it is costing you $$ and talent. You need to get a handle on it or things will only get worse.


  7. "Software Development Intern"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Software Developer Intern in Troy, MI (US)
    Former Employee - Software Developer Intern in Troy, MI (US)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Flagstar Bank (Less than a year)

    Pros

    Great community and environment, had to do no work outside of 5 pm

    Cons

    Very boring work, work was too easy and had no impact on the company or the work itself

    Advice to Management

    Let intern play a larger role in making the software


  8. "Was a great place prior to investor buy out"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Account Executive in Chicago, IL (US)
    Former Employee - Account Executive in Chicago, IL (US)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Flagstar Bank full-time (More than 8 years)

    Pros

    Bank backed mortgage co so you have that flexibility and security prior to buy out most of managers knew what they were doing. Pay was for sure best in industry.

    Cons

    After buy out no one listened in management. Lots of internal conflict between departments. Managers had the crows nest view point. Everything looked good from above to them buy we were dying outside on the sand of the islands. They didn't really care. Tech is also way clumsy and out of date where as it used to be best in class


  9. Helpful (1)

    "Good Salaries. So so place to work."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Programmer Analyst in Troy, MI (US)
    Former Employee - Senior Programmer Analyst in Troy, MI (US)
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Flagstar Bank full-time (More than 5 years)

    Pros

    I worked here for a few years as a full-time employee. The company has changed hands a few times. Heard good things after I left but over all a so so place to work.

    Cons

    I did not have a lot of growth from a career perspective. Used to work with old technologies and all open source stuff

    Advice to Management

    Please bring back the increments and issue bonuses to performers


  10. "Overall"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Flagstar Bank (More than 3 years)

    Pros

    Like a small bank in many ways, local to MI.

    Cons

    struggling with identity and it shows, hard to meet goals because of it.


  11. "Assistant Branch Manager"

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

    I worked at Flagstar Bank full-time (More than 5 years)

    Pros

    gained lots of mortgage experience

    Cons

    incentive pay for sales is low


Showing 82 of 263 reviews
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