Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com

Flagstar Bancorp Reviews

Updated 7 October 2014
Updated 7 October 2014
134 Reviews
2.5
134 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
40 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

Employee Reviews

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  1. 2 people found this helpful  

    Not the best one.

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

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

    Pros

    Relative ease to get in.

    Cons

    Low salaries,lack of promotional opportunities, broken promises.

    Advice to ManagementAdvice

    Start paying people right ! Take care of your employees !

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Big Company, Small Mentality

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Branch Manager in West Bloomfield, MI (US)
    Former Employee - Assistant Branch Manager in West Bloomfield, MI (US)

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

    Pros

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

    Cons

    Flagstar 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 ManagementAdvice

    Hire 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.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    Review of the company

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

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

    Pros

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

    Cons

    The 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 ManagementAdvice

    Be more informative with the employees and have more meeting that execute on the discussion in the meeting.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review
  5. 1 person found this helpful  

    anonymous

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp full-time

    Pros

    Coworkers are like second family. great location. sort of relaxed environment depending on department

    Cons

    Too many hours, too many projects that are started and never finished, too many managers, difficult to move up within company

    Neutral Outlook
    Disapproves of CEO
  6. 1 person found this helpful  

    Stay away!

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp

    Pros

    If 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!

    Cons

    When 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 ManagementAdvice

    Do 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

  7.  

    Pretty good company to work for.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Personal Banker
    Current Employee - Personal Banker

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

    Pros

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

    Cons

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

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Nice people nearsighted corporate planning

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp full-time (more than an year)

    Pros

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

    Cons

    Low 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 ManagementAdvice

    Treat 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.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9. 1 person found this helpful  

    Very unprofessional place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Bellevue, WA (US)
    Current Employee - Anonymous Employee in Bellevue, WA (US)

    I have been working at Flagstar Bancorp full-time (more than an year)

    Pros

    Great location - near restaurants and the transit center.

    Cons

    Management has no respect for employees.

    Advice to ManagementAdvice

    Look 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Lack of Communication

    • 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

    Flexibility, ability to learn through experience

    Cons

    Little 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 ManagementAdvice

    Communicate 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.

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

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Executive
    Former Employee - Account Executive

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

    Pros

    Never had a paycheck bounce, payroll taxes were always paid, and benefits were OK, though getting worse.

    Cons

    Was 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 ManagementAdvice

    Listen 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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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