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

2.4 121 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)

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

     

    Good learning opportuity in a frustrating work atmosphere

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

    ProsThere were many great people working here. Training staff was very good in the end. Time off was very flexible.

    ConsLack of advancement opportunity, Processes changed constantly, Software package purchased for doing our job in loss mitigation destroyed our customer service. Poorly managed.

    Advice to Senior ManagementA company that advertises itself as Michigan owned, Michigan focused shouldn't be outsourcing jobs out of state. There have been numerous layoffs in the mortgage and loss mitigation departments of well over 400 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

     

    Wasted Time

    Financial Service Representative (Current Employee) Farmington Hills, MI (US)

    ProsIt's a job that pays something

    ConsSalary, Benefits, no time off, work hours

    Advice to Senior ManagementPromote the people that actually work hard and not just the kiss-ups.

    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

     

    Current Employee.

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

    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

  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
    • Approves of CEO

     

    Good experience

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

    ProsTeam building experiences encouraged
    Management wants ideas of ways to improve processes

    ConsMany changes in the last years leads to feelings of uncertainty in departments
    Low salary range for positions in comparison to market

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
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    • No Opinion of CEO

     

    Employees as commodity

    Anonymous Employee (Former Employee)

    ProsLet's see...commute was reasonable. Co-workers were nice folks, considering indentured servitude nature of the place. That's about it.

    ConsTop 5
    1. Radically excessive production goals.
    2. Low pay to start with, absurdly low considering # hours necessary to meet goals.
    3. Unclear delineation of responsibility (assistant level staff should have done more).
    4. Incomprehensible management configuration.
    5. Sloggy computers.

    Advice to Senior ManagementConsider relying more on contract employees. Invest in training assistant level staff. Clarify management structure & underwriting standards to eliminate brokers shotgunning for the answer they want. Have IT install more RAM in office computers, or whatever is needed to make the computers more responsive.

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

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Flagstar Review

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

    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

     

    Poorly Managed Company

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

    ProsIt bought me some time for my next career move.

    ConsToo many to list here. It's a good idea for interested persons to find out for themselves.

     

    Open accounts and provide customer service.

    Anonymous Employee (Current Employee)

    ProsThey customers seem to be fairly loyal

    ConsThere is little room for advancement and the leadership is constantly changing goals.

    Advice to Senior ManagementDevelop a better training program for banking staff.

    Yes, I would recommend this company to a friend

    • Culture & Values
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    • Comp & Benefits
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    • Approves of CEO

     

    awesome

    Teller (Current Employee) Grand Rapids, MI (US)

    Prosthis company has awesome pay

    Consi have absolutely nothing bad to say

    Advice to Senior Managementcontinue to make the workplace an awesome place

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

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great People, Not So Great Internal Coordination/Communication

    Anonymous Employee (Current Employee)

    ProsThere are many good people that do a lot for their community and genuinely care for others, especially customers and coworkers.

    ConsDepartments are like nuclear missile silos, especially the large generic departments like marketing. They either don't think to communicate and share info, or they don't want to. At times it is like 100 little companies, instead of 1. The officers club also exists like the military in the 1950's. Non-Officers don't communicate with officers outside their direct reports.

    Advice to Senior ManagementForce your employees to share information across teams and titles. Job titles are just a function, not a symbol or culture of your status.

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

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