Flagstar Bancorp

  www.flagstar.com
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Flagstar Bancorp Reviews

Updated Jul 23, 2014

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All Employees Current Employees Only

2.4 120 reviews

58% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(33 ratings)

32% of employees recommend this company to a friend

Review Highlights

Pros
  • Competitive pay, normal hours, good benefits, good PTO, opportunity to move up (in 5 reviews)

  • Some good people who mean well, but quality leadership is sorely lacking (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
120 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Review of the company

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

    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

    • Culture & Values
    • Work/Life Balance
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    • Approves of CEO

     

    Lack of Communication

    Anonymous Employee (Current Employee)

    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

    • Culture & Values
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    Pretty good company to work for.

    Personal Banker (Current Employee)

    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

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
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    1 person found this helpful  

    Full time employee over 5 years

    Anonymous Employee (Former Employee) Troy, MI (US)

    Pros*Benefits
    *Co-workers are like family
    *Excellent lunch room with restaurant

    Cons*Little room for advancement
    *Many managers have been promoted only because of time there and not because of skill
    *Company is reactive rather than proactive
    *Pay is on the low side for your position unless you are a hold over from the old regime.

    Advice to Senior ManagementPlease trim the fat. There are too many people that are complacent in their roles just going through the motions. You've lost good people due to cuts in the wrong places

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

    • Culture & Values
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    • No Opinion of CEO

     

    Nice people nearsighted corporate planning

    Anonymous Employee (Former Employee)

    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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    • Disapproves of CEO

    1 person found this helpful  

    Very unprofessional place to work

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

    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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Former AE

    Account Executive (Former Employee)

    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.

    • Culture & Values
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    • Approves of CEO

     

    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)

    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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

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

    Account Executive (Former Employee)

    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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    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)

    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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