Flagstar Bancorp

  www.flagstar.com
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Flagstar Bancorp Reviews

Updated 10 August 2014
Updated 10 August 2014
127 Reviews

2.4
127 Reviews
Rating Trends

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

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

Employee Reviews

Sort: Popular Rating Date
  1.  

    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

    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
  2. 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

    Pros

    Great culture when I was there.

    Cons

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

    No opinion of CEO
  3. 1 person found this helpful  

    Great Company

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

    Pros

    I 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.

    Cons

    Loan 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 ManagementAdvice

    Start hiring within the company instead of outsiders.

    Recommends
    Neutral Outlook
    Approves of CEO
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  5.  

    Senior Loan Officer

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

    Pros

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

    Cons

    I 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 ManagementAdvice

    Pay 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.

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

    It was A great learning experience

    • 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)

    Pros

    If you get into the right department, your learning can be endless

    Cons

    You work for a company and bust your butt and work 50-60 hrs a week and then they decide to outsource your work and you are out of a job.

    Advice to ManagementAdvice

    Quit hiring friends and relatives as team leads and managers and hire people on their dedication and performance.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Good learning opportuity in a frustrating work atmosphere

    • 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)

    Pros

    There were many great people working here. Training staff was very good in the end. Time off was very flexible.

    Cons

    Lack of advancement opportunity, Processes changed constantly, Software package purchased for doing our job in loss mitigation destroyed our customer service. Poorly managed.

    Advice to ManagementAdvice

    A 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Wasted Time

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

    Pros

    It's a job that pays something

    Cons

    Salary, Benefits, no time off, work hours

    Advice to ManagementAdvice

    Promote the people that actually work hard and not just the kiss-ups.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9.  

    Current Employee.

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

    Pros

    Nice people, Good working conditions, great hours, great benefits

    Cons

    Very low pay, not much room for advancement, work quota's that can be hard to reach, error ratios that are hard to stay below. Many Departments being closed and outsourced. Overtime is almost impossible to get.

    Advice to ManagementAdvice

    Stop outsourcing your business and laying off employees. The employees you have now have experience in your company and could help you with your new vision if you let us. Increase the pay and give hard working current employees a chance to get into management positions.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Good experience

    • 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)

    Pros

    Team building experiences encouraged
    Management wants ideas of ways to improve processes

    Cons

    Many changes in the last years leads to feelings of uncertainty in departments
    Low salary range for positions in comparison to market

    Recommends
    Negative Outlook
    Approves of CEO
  11.  

    Employees as commodity

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

    Pros

    Let's see...commute was reasonable. Co-workers were nice folks, considering indentured servitude nature of the place. That's about it.

    Cons

    Top 5
    1. Radically excessive production goals.
    2. Low pay to start with, absurdly low considering # hours necessary to meet goals.
    3. Unclear delineation of responsibility (assistant level staff should have done more).
    4. Incomprehensible management configuration.
    5. Sloggy computers.

    Advice to ManagementAdvice

    Consider relying more on contract employees. Invest in training assistant level staff. Clarify management structure & underwriting standards to eliminate brokers shotgunning for the answer they want. Have IT install more RAM in office computers, or whatever is needed to make the computers more responsive.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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