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
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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. 1 person found this helpful  

    Full time employee over 5 years

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

    I worked at Flagstar Bancorp full-time (more than 5 years)

    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 ManagementAdvice

    Please 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

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Former AE

    • 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

    Pros

    Flagstar 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.

    Cons

    They 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.

    Neutral Outlook
    No opinion of CEO
  3.  

    A very fast pace environment with growth potential, if you are willing to put in a lot of hours.

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

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

    Pros

    Ability to make a difference in a growing company.

    Cons

    Poor systems, weak infrastructure. A lot of manual work.

    Advice to ManagementAdvice

    People are the greatest asset - treat them with respect and they will do great things for you.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
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  5.  

    My experience at Flagstar started off ok. Then it became a nightmare. They started to track your every move.

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

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

    Pros

    They are willing to hire people with little to no experience. There is some potential to move up.

    Cons

    Management is rude. There is no lunch room on any of the floors. You have to share microwaves with the whole company.

    Advice to ManagementAdvice

    Management 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.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Generally a positive experience, with usual highs and lows.

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

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

    Pros

    Pleasant working conditions and facilities. Friendly culture. Variety of types of work assigned. The on-site cafeteria has good food and pleasant staff.

    Cons

    Frequent cuts in staffing. Consistent lack of communication to employees. Constant turnover at the highest levels over the past 3 years. 20% staffing reduction by department, across the company. Career advancement difficult. Company spent thousands abd thousands of dollars to expand into leased space, then walked away from the space in less that 2 years, and eliminated more than 800 positions.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  7.  

    Flagstar bank is an alright place to work, tough to move within.

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

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

    Pros

    Flagstar is a small enough bank that most people at corporate are known around. They have the big bank name and small to medium bank feel that makes customers feel comfortable.

    Cons

    It felt difficult to get promoted within, most people have been there for a while and like where they were at and content without going anywhere.

    Advice to ManagementAdvice

    Show a path to career advancement to new employees.

    Recommends
    Neutral Outlook
    No opinion of CEO
  8.  

    Busting my ass for a company that never recognizes it

    Mortgage loan closer

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp

    Pros

    PTO time and the cafeteria staff is only pros for this place

    Cons

    Never want to hire within or allow employees to move up within. Poor pay, managers who micro manage your every move. Managers who won't take advise from employees on their every day work.

    Advice to ManagementAdvice

    Promote from within!!! Learn how to pay your employees what they deserve or you will lose GOOD employees. Get rid of the lazy staff who work only for a pay...not to make a difference

  9.  

    Not a pleasant place to work, management is completely disorganized

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Top Dog In Charge of Everything
    Former Employee - Top Dog In Charge of Everything

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

    Pros

    The best reasons to work at Flagstar include: paid holidays, PTO, and since they are settling all their lawsuits maybe they will be bought out.

    Cons

    A few of the downsides of working for Flagstar include: the offices being short staffed most of the time, constantly changing the high priority work, and declining most of the loan applications that take many weeks to process.

    Advice to ManagementAdvice

    Get your act together.... you are losing good people!

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10.  

    Work there at you own risk.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Service Representative
    Current Employee - Financial Service Representative

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

    Pros

    The company try to get input from the employees of how to improve the company.

    Cons

    The company doesn't have a great reputation as a bank. As a bank I wouldn't say they are strong.

    Advice to ManagementAdvice

    I have none.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 1 person found this helpful  

    Great employer when the Hammonds were in charge!

    • 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

    Great culture when I was there.

    Cons

    Hardest job I've ever had, but most rewarding.

    No opinion of CEO

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