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

56% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(34 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)

More Highlights
121 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

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

    Post Closer (Former Employee) Troy, MI (US)

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

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

    Advice to Senior ManagementManagement 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.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

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

    Loan Officer (Former Employee) Troy, MI (US)

    ProsFlagstar 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.

    ConsIt 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 Senior ManagementShow a path to career advancement to new employees.

    Yes, I would recommend this company to a friend

     

    Busting my ass for a company that never recognizes it Mortgage loan closer

    Anonymous Employee (Current Employee)

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

    ConsNever 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 Senior ManagementPromote 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

  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
    • No Opinion of CEO

     

    Not a pleasant place to work, management is completely disorganized

    Top Dog In Charge of Everything (Former Employee)

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

    ConsA 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 Senior ManagementGet your act together.... you are losing good people!

    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

     

    Work there at you own risk.

    Financial Service Representative (Current Employee)

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

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

    Advice to Senior ManagementI have none.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Generally a positive experience, with usual highs and lows.

    Senior Accountant (Former Employee) Troy, MI (US)

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

    ConsFrequent 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.

    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

    1 person found this helpful  

    Great employer when the Hammonds were in charge!

    Account Executive (Former Employee)

    ProsGreat culture when I was there.

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

    • 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
    • Approves of CEO

    1 person found this helpful  

    Great Company

    Senior Financial Service Representative (Current Employee) Sterling Heights, MI (US)

    ProsI work in the branch as a personal banker and enjoy working with my team on a daily basis. Management is great as long as you meet or exceed your goals. Work/school/life balance is great and they are really flexible.

    ConsLoan goals can be stressful at times. Very hard to get promoted within. A lot of ass kissing is necessary to get what you want.

    Advice to Senior ManagementStart hiring within the company instead of outsiders.

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Senior Loan Officer

    Senior Loan Officer (Former Employee) Bloomfield Hills, MI (US)

    ProsClean, secure work environment. No clock to punch and little to no supervision. Extremely easy interview process, acceptance and placement. Given trust from day one.

    ConsI worked for Flagstar for one year. Unfortunately, I found no encouragement to succeed. No corporate culture. No "in person" training. No career path and restrictive prospecting policies.

    Advice to Senior ManagementPay a "living wage" to those who provide professional services on behalf of the bank. Engage in in person training and create a corporate culture of any kind. Encourage management to take an interest in employees in the field. Include all employees in year end bonuses when bonuses are given.

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

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