Flagstar Bancorp

  www.flagstar.com
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Flagstar Bancorp Reviews

Updated Jul 09, 2014

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All Employees Current Employees Only

2.4 120 reviews

56% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(32 ratings)

31% 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)

32 Employee Reviews Back to all reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Worst place to work for

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

    ProsThe commute wasn't bad at all

    ConsEverything; but especially senior management!

    Advice to Senior ManagementListen to 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

     

    Underwriter

    Anonymous Employee (Former Employee)

    ProsNice supervisors and regional managers

    ConsUpper management give very poor career advise and are ungrateful.

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

     

    A mishmash of slop

    Anonymous (Former Employee) Troy, MI (US)

    ProsSome good people who mean well, but quality leadership is sorely lacking.
    Good pay

    ConsTakes forever to get approval for anything. Also, most people are so siloed that working between groups to accomplish anything was a nightmare. Also, the "old way" vs the "new way" was a constant struggle. Constantly changing executive team also leads to lack of sirection.

    Advice to Senior ManagementListen to employees. You have a lot of talented people, but have a need to ignore them and hire consultants for everything.

    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
    • 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
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    • 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
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    • 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
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    • 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

    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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    • No Opinion of CEO

     

    Nice people nearsighted corporate planning

    Anonymous Employee (Former Employee)

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

    ConsLow 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 Senior ManagementTreat 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.

    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  

    Very unprofessional place to work

    (Current Employee) Bellevue, WA (US)

    ProsGreat location - near restaurants and the transit center.

    ConsManagement has no respect for employees.

    Advice to Senior ManagementLook 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.

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

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