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

Sort: Popular Rating Date
  1.  

    Good immediate management and earning potential but horrible decision making speed from higher level executives.

    • 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

    Pros

    Excellent earning potential and mid level management is fantastic.

    Cons

    Product development and processes are stagnant at best.

    Advice to ManagementAdvice

    Become more agile and improve speed of decision making.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2.  

    Abusive environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Service Representative in Orion, MI (US)
    Former Employee - Financial Service Representative in Orion, MI (US)

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

    Pros

    Opportunities for advancement. Nice working environment. Beautiful branches.

    Cons

    Dangerous work conditions! Closing branch by yourself! Stressed out managers trying to meet unrealistic goals! No fun!

    Advice to ManagementAdvice

    Make sure you really know what is going on at branches. A lot of lying by branch managers to regionals.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3.  

    Not a long term position...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Service Representative in Jackson, MI (US)
    Former Employee - Financial Service Representative in Jackson, MI (US)

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

    Pros

    Fun pace, good people to work with. But for what it's worth...I'd never go back.

    Cons

    Your "sales commission" wasn't reward based, but threat-based. Terrible fear every month when the numbers came due. Nearly impossible goals as well.

    Advice to ManagementAdvice

    Treat your employees like people. Never seen a more harsh Top>bottom discrepancy

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
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  5.  

    Good company

    • 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 (more than 5 years)

    Pros

    work close to home and love the customer networking

    Cons

    No career development plan for a person who desire to transition into a different department.

    Advice to ManagementAdvice

    Provide better career development mapping.

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    Lots of excellent people to work with. Unfortunately the company was very unorganized which could be difficult.

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

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

    Pros

    Lots of excellent people to work for and a reasonable pay. There was pressure to get things done but management was understanding. They were also pretty flexible, I was also a college student at the time and they allowed me to leave early on multiple occasions to study and make it up later.

    Cons

    I had a difficult time growing there because there seemed to be lacking room for growth.

    Advice to ManagementAdvice

    Organize the company and create a corporate culture that encourages learning and personal growth

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Don't trust em!

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

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

    Pros

    Nice office setting, and working with people that are pretty cool. The pay is competitive and hard to come by. Breaks and lunches can be taken when the worker wants in most departments.

    Cons

    Layoffs, and outsourcing- provides no stability- No telling if you are on the chopping block!

    Advice to ManagementAdvice

    Change the slogan if jobs are being outsourced to Texas! It's no longer "In Michigan and for Michigan"- and stop lying to customers- Flagstar is not taking the calls or servicing the loans.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    Many futile attempts to get back on course...

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

    I have been working at Flagstar Bancorp full-time (more than 10 years)

    Pros

    The job pays well, benefits are decent (they were better), a good place to get some "on the job" experience. You get all the bank holidays, and every Friday is a $2 jean day, with donations going to some local charity. Employees will vary rarely be let go for incompetence: good for the employee, but just another sign of poor management. The current CEO actually seems to care. He may not tell the whole story, but he's been mostly truthful in his town hall meetings and has attempted to provide monthly voice recordings on the state of the company through the employee's internal web site.

    Cons

    Many issues with company performance has led to multiple changes in upper management over the last several years. Even though the current CEO is trying to get the company back on course, there is a lot of leftover "garbage" in place. Middle management seems to have their own agenda, not wanting to participate in change or provide assistance, which in the end should help everyone. Some employees have been pulled aside for not meeting quota, and others for going over quota when there is not enough work to go around: just excellent example of "be average or you don't belong." And then mandatory overtime is implemented when there is again too much work; great if you're paid hourly, but bad for salary. It's gotten to the point where some salary employees have been told not to clock in anymore. Interaction between business groups is minimal, causing tasks to be done over and over due to lack of information, which would have helped to get something done right the first time. Some teams apparently feel superior and provide no assistance, and face no consequences in doing so. While some of this has slowly began to change, it is still a huge problem when attempting to complete a project that requires multiple internal resources. Middle management seems to have found a work around by hiring in contractors and "off shore" personnel when these tasks could just as easily have been done internally if some backbone were in place to better manage the employees. Thus, we now have wasteful spending when the company is looking to save money. In order to offset that cost, raises are minimal, promotions few (unless you're a manager), money is hidden / stolen from other projects, and there is usually a yearly employee layoff between Thanksgiving and Christmas to make the stock look good. Happy Holidays for those who are let go during this time...

    Advice to ManagementAdvice

    Middle management needs to be better supervised and/or cleaned out. Some of these managers came from a time of about 10 years ago when the company had its own internal management training program, the proverbial "blind leading the blind." New ideas from new middle management would help instead of relying on previous methods that has brought the company to its current situation.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  9. 1 person found this helpful  

    For the most part, the experience was good especially in the beginning.

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp

    Pros

    There was an increased emphasis in training and it's good to be exposed to some training that doesn't necessarily involve your job.

    Cons

    There were too many levels of management and not enough communication throughout. And often changes in upper management in the last 3 or 4 years. It's difficult for me to recommend Flagstar as a good place to work anymore.

    Advice to ManagementAdvice

    Involve everyone so they feel part of the process.

  10. 1 person found this helpful  

    Worst place to work for

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

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

    Pros

    The commute wasn't bad at all

    Cons

    Everything; but especially senior management!

    Advice to ManagementAdvice

    Listen to your employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    interesting

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

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

    Pros

    balance and time off was good

    Cons

    too many changes in cfo, ceo

    Advice to ManagementAdvice

    Stop changing executive management

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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