Flagstar Bancorp

  www.flagstar.com
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Flagstar Bancorp Reviews

Updated Jul 14, 2014

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All Employees Current Employees Only

2.4 119 reviews

58% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(31 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)

119 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Management lied consistently, too many layers of VP's. Title does not correspond with job ability at this bank.

    Senior Trainer (Former Employee) Troy, MI (US)

    ProsA paycheck is about it.

    ConsManagers misled their own employees. Bank can't attract and keep top talent is not willing to pay for good talent. HR department is poorly run and consistently lied to employees. Too many CEO changes within last year which indicates poor executive leadership.

    Advice to Senior ManagementThe problem is they didn't listen to anyone while I was there and caused more fires than were needed.

    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
    • Approves of CEO

    1 person found this helpful  

    Company does not have a clue where it's going and how it's going to get there.

    Branch Management - Assistant Vice President (Former Employee) Grand Rapids, MI (US)

    ProsFlagstar bank has some extremely loyal employees who love what they do and wants this company to succeed.

    ConsThe retail banking side of Flagstar is very unfocused. Weekly, if not daily focus is changed on a dime with no thought on how this affects the customer and it's own employees. Market managers are unwilling to listen to their own employees as to what the front line is hearing from it's customer base and when things are brought to middle managements attention it is just ignored. Market Managers use fear as a motivation, although this may work in the short term it will ultimately come back to haunt you in the end.

    Advice to Senior ManagementFlagstar Bank used to be a place where the "open door policy" was actually that. Start listening to the people on the front lines and pay attention to how your Market Managers are treating your branch managers and front line employees. Sandro, you are a fantastic leader but have lost focus on the retail banking side. Look closely at who you have running that part of the ship, you may be surprised at what you find out. Lastly, bring back the good ole days when we enjoyed walking in the door every morning instead of this fear that this may be your last day of employment because of your micro managing Market Mangers with no heart or soul.

    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

    1 person found this helpful  

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

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

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

     

    Big Mistake ...

    Anonymous Employee (Former Employee)

    ProsI don't have anything good to say about Flagstar. Just moving on...

    ConsThe worst time of my 20+ year banking career.

    Advice to Senior ManagementSell the Bank.

    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
    • Disapproves of CEO

    1 person found this helpful  

    Unprofessional Bank

    Regional Manager (Current Employee) Detroit, MI (US)

    ProsThere are no compelling reasons to work at Flagstar Bank other than yoy receive a check every two weeks!

    ConsSandro DiNello our current CEO is very phony and does not deal well with subordinate employees. He is scripted in his dealings with most employees and is only interested in his well being.

    Advice to Senior ManagementSandro, you should just sell the retail side of the bank and concentrate on the wholesale mortgage business as you have no clue how to operate a successful operation. Your competitors like Comerica, Chartwe One, TCF have class, you and your bank have none!

    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

    1 person found this helpful  

    Not the best one.

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

    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

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

    1 person found this helpful  

    Big Company, Small Mentality

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

    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

    • 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
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    anonymous

    Anonymous Employee (Former Employee)

    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

    1 person found this helpful  

    Stay away!

    Anonymous Employee (Current Employee)

    ProsIf you are in the right dept you can do well if you keep your mouth shut and do your job. You can learn a lot and get a better job with better pay!

    ConsWhen times are busy they will hire anyone with a pulse. Then layoff all the new hires and then some. Layoffs were not based on performance. Management was given a list of who they had to get rid of. So even if you played your cards right, never called in, were efficient at your job it didn't matter. If you were on the list from hr you had to go. You are just a number. I will never recommend this place. They are going through CEOs left and right and the newest one is doing nothing for morale. Also from a consumer standpoint their checking and savings accounts are awful compared to their competitors.

    Advice to Senior ManagementDo some research with banks and mortgage companies in the area and take some tips on how to keep good employees. Lots of great companies out there and flagstar is not one of them

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