Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com
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Flagstar Bancorp Reviews

Updated 29 September 2014
Updated 29 September 2014
132 Reviews
2.5
132 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
39 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

42 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    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 for less than a 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...

  2. 1 person 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 for 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
  3.  

    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 for 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
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  5.  

    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 for 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
  6.  

    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
  7.  

    Good company

    • 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 for more than 5 years

    Pros

    work close to home and love the customer networking

    Cons

    No career development plan for a person who desire to transition into a different department.

    Advice to ManagementAdvice

    Provide better career development mapping.

    Recommends
    Neutral Outlook
    Approves of CEO
  8.  

    Lots of excellent people to work with. Unfortunately the company was very unorganized which could be difficult.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Closer/Funder  in  Troy, MI (US)
    Former Employee - Loan Closer/Funder in Troy, MI (US)

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

    Pros

    Lots of excellent people to work for and a reasonable pay. There was pressure to get things done but management was understanding. They were also pretty flexible, I was also a college student at the time and they allowed me to leave early on multiple occasions to study and make it up later.

    Cons

    I had a difficult time growing there because there seemed to be lacking room for growth.

    Advice to ManagementAdvice

    Organize the company and create a corporate culture that encourages learning and personal growth

    Recommends
    Positive Outlook
    Approves of CEO
  9. 1 person found this helpful  

    For the most part, the experience was good especially in the beginning.

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp

    Pros

    There was an increased emphasis in training and it's good to be exposed to some training that doesn't necessarily involve your job.

    Cons

    There were too many levels of management and not enough communication throughout. And often changes in upper management in the last 3 or 4 years. It's difficult for me to recommend Flagstar as a good place to work anymore.

    Advice to ManagementAdvice

    Involve everyone so they feel part of the process.

  10.  

    Management is constantly changing....lack of consistency

    • 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 for more than a year

    Pros

    Some really great people within the organization to work with, but many of them do not stay because their contributions are not valued. The work is interesting, and assignments are challenging.

    Cons

    Not enough management training
    lack of upward mobility
    focus of company seems to constantly change

    Advice to ManagementAdvice

    cross train employees, better 401K benefits needed, work on retention of quality employees.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11. 1 person found this helpful  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Analyst  in  Troy, MI (US)
    Former Employee - Loan Analyst in Troy, MI (US)

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

    Pros

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

    Cons

    There 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.

    Recommends
    Neutral Outlook
    No opinion of CEO

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