Flagstar Bancorp
2.5 of 5 106 reviews
www.flagstar.com Troy, MI 1000 to 5000 Employees

Flagstar Bancorp Reviews

Updated Mar 25, 2014

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2.5 106 reviews

                             

57% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(21 ratings)

33% of employees recommend this company to a friend
33 Employee Reviews Back to all reviews
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1 person found this helpful  

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

Loan Analyst (Former Employee)
Troy, MI (US)

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

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

ConsThere 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.

Yes, I would recommend this company to a friend

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anonymous

Anonymous Employee (Former Employee)

I worked at Flagstar Bancorp full-time

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

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

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Former AE

Account Executive (Former Employee)

I worked at Flagstar Bancorp full-time

ProsFlagstar 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.

ConsThey 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.

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

First Vice President (Current Employee)
Troy, MI (US)

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

ProsAbility to make a difference in a growing company.

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

Advice to Senior ManagementPeople are the greatest asset - treat them with respect and they will do great things for you.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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My experience at Flagstar started off ok. Then it became a nightmare. They started to track your every move.

Post Closer (Former Employee)
Troy, MI (US)

I worked at Flagstar Bancorp full-time for more than a year

ProsThey are willing to hire people with little to no experience. There is some potential to move up.

ConsManagement is rude. There is no lunch room on any of the floors. You have to share microwaves with the whole company.

Advice to Senior ManagementManagement needs to stop mico-managing their employees. They make you feel like you are always doing something wrong. They need to encourage their employees more. This will help boost moral.

No, I would not recommend this company to a friend

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Flagstar bank is an alright place to work, tough to move within.

Loan Officer (Former Employee)
Troy, MI (US)

I worked at Flagstar Bancorp full-time for more than a year

ProsFlagstar is a small enough bank that most people at corporate are known around. They have the big bank name and small to medium bank feel that makes customers feel comfortable.

ConsIt felt difficult to get promoted within, most people have been there for a while and like where they were at and content without going anywhere.

Advice to Senior ManagementShow a path to career advancement to new employees.

Yes, I would recommend this company to a friend

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Senior Loan Officer

Senior Loan Officer (Former Employee)
Bloomfield Hills, MI (US)

I worked at Flagstar Bancorp full-time for less than a year

ProsClean, secure work environment. No clock to punch and little to no supervision. Extremely easy interview process, acceptance and placement. Given trust from day one.

ConsI worked for Flagstar for one year. Unfortunately, I found no encouragement to succeed. No corporate culture. No "in person" training. No career path and restrictive prospecting policies.

Advice to Senior ManagementPay a "living wage" to those who provide professional services on behalf of the bank. Engage in in person training and create a corporate culture of any kind. Encourage management to take an interest in employees in the field. Include all employees in year end bonuses when bonuses are given.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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It was A great learning experience

Loss Mitigation Speciaist (Former Employee)
Troy, MI (US)

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

ProsIf you get into the right department, your learning can be endless

ConsYou work for a company and bust your butt and work 50-60 hrs a week and then they decide to outsource your work and you are out of a job.

Advice to Senior ManagementQuit hiring friends and relatives as team leads and managers and hire people on their dedication and performance.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Current Employee.

Loan Analyst (Current Employee)
Troy, MI (US)

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

ProsNice people, Good working conditions, great hours, great benefits

ConsVery low pay, not much room for advancement, work quota's that can be hard to reach, error ratios that are hard to stay below. Many Departments being closed and outsourced. Overtime is almost impossible to get.

Advice to Senior ManagementStop outsourcing your business and laying off employees. The employees you have now have experience in your company and could help you with your new vision if you let us. Increase the pay and give hard working current employees a chance to get into management positions.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Flagstar Review

Project Manager (Former Employee)
Troy, MI (US)

I worked at Flagstar Bancorp full-time for less than a year

ProsGood people; knowledgeable resources; average pay range for position

ConsDue to recent leadership change the bank seems to be in a downsizing mode. Future for many there is uncertain at this time

No, I would not recommend this company to a friend

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Glassdoor is your free inside look at Flagstar Bancorp reviews and ratings - including employee satisfaction and approval ratings for Flagstar Bancorp CEO Alessandro P. DiNello. All 33 reviews are posted anonymously by Flagstar Bancorp employees.