Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com

Flagstar Bancorp Reviews

Updated 6 November, 2014
Updated 6 November, 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

47 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Senior Loan Officer

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

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

    Pros

    clean work environment, no clock punch, managers are nice

    Cons

    very little coorporate support, no direction,

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

    Fun for the most part

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

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

    Pros

    I have definitely lucked out working here. My team is a good one. The managers I have had, have been great mentors and are always finding ways to help you grow and succeed. There is opportunity to grow. Sometimes close by an somtimes moving might be required. Upper Management can be alright but sometimes can be a bit unreasonable in their exexpectations. All in all, it is good place to work.

    Cons

    Lending is horrible. Process is drug out.
    Pay could be much better for the responsibility that some personal bankers carry.
    Goals for assistant managers should be changed to branch goals.

    Advice to ManagementAdvice

    If a banker has more than one responsibility, e.g. personal banker plus certified lender be sure they are making a base pay especially if they are performing well.
    Please change assistant manager goals to a branch focused goal.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    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
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  5.  

    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
  6.  

    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
  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.  

    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
  10.  

    Challenging

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

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

    Pros

    Safe environment, good cafeteria and relaxed dress code

    Cons

    Business units don't support bank mission

    Advice to ManagementAdvice

    Support your employees, they are human beings not work horses

    Neutral Outlook
    No opinion of CEO
  11.  

    If you like working with good people this place might be for you.

    • 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

    The people that work in the branches really care about their customers and doing the right thing, The customers are amazing the daily work has a lot of responsibility but is satisfying.

    Cons

    Management continues to change and the work day goals change with it. They have too many meetings with no substance.

    Advice to ManagementAdvice

    They do not take a look at what is actually happening at the branches or listen so this would be useless.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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