Flagstar Bancorp
2.5 of 5 105 reviews
www.flagstar.com Troy, MI 1000 to 5000 Employees

Flagstar Bancorp Reviews

Updated Apr 01, 2014

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2.5 105 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
105 Employee Reviews
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Review Highlights

Pros:
  • "Competitive pay, normal hours, good benefits, good PTO, opportunity to move up"
    in 5 reviews
  • "Good benefits work life balance"
    in 3 reviews
Cons:
  • "Flagstar has little room for advancement"
    in 4 reviews
  • "Customer service agents present less than professional front to customers"
    in 4 reviews
  • Show more review highlights

Reviews

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  • No Opinion of CEO

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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Not the best one.

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

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

ProsRelative ease to get in.

ConsLow salaries,lack of promotional opportunities, broken promises.

Advice to Senior ManagementStart paying people right ! Take care of your employees !

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

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Big Company, Small Mentality

Assistant Branch Manager (Former Employee)
West Bloomfield, MI (US)

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

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

ConsFlagstar 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 Senior ManagementHire 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.

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

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Review of the company

Mortgage Loan Officer (Current Employee)
Troy, MI (US)

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

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

ConsThe 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 Senior ManagementBe more informative with the employees and have more meeting that execute on the discussion in the meeting.

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

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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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Pretty good company to work for.

Personal Banker (Current Employee)

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

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

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

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Nice people nearsighted corporate planning

Anonymous Employee (Former Employee)

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

ProsEmployees are nice with a positive mentality
Decent benefits
401k plan offered

ConsLow 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 Senior ManagementTreat 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.

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

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Very unprofessional place to work

Anonymous Employee (Current Employee)
Bellevue, WA (US)

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

ProsGreat location - near restaurants and the transit center.

ConsManagement has no respect for employees.

Advice to Senior ManagementLook 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.

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

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Lack of Communication

Anonymous Employee (Current Employee)

I have been working at Flagstar Bancorp full-time

ProsFlexibility, ability to learn through experience

ConsLittle 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 Senior ManagementCommunicate 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.

No, I would not recommend this company to a friend

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Has been moving backwards for the last 6 years. No progress in IT or product

Account Executive (Former Employee)

I worked at Flagstar Bancorp full-time for more than 10 years

ProsNever had a paycheck bounce, payroll taxes were always paid, and benefits were OK, though getting worse.

ConsWas laid off from a 100% commission position, in a declining market. That's pretty much unheard of and indicative of how this management team is really just in over their heads. I think there have been 4 CEO's since 2008, which again is unheard of. The banks profits come from the mortgage business and unfortunately this bank is the wrong size. Too big to be customer friendly and too small to play with the big boys. The wholesale sales team is now being run by three people, all of which were over promoted to just be regional managers, now they get a chance to mismanage the whole division. I'm glad to be gone.

Advice to Senior ManagementListen to the rank and file, your managers are perfect examples of the Peter Principle, and will drag the whole thing down. The best advice is SELL while you can

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

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