Flagstar Bancorp
2.4 of 5 117 reviews
www.flagstar.com Troy, MI 1000 to 5000 Employees

Flagstar Bancorp Reviews

Updated Jul 4, 2014

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2.4 117 reviews

                             

59% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(29 ratings)

31% of employees recommend this company to a friend
54 Employee Reviews Back to all reviews
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    Awesome environment and great corporate/professional environment.

    Secondary Marketing - Lock Desk (Current Employee)
    Troy, MI

    ProsGreat environment, Culture is great and the age group has a large variance across the company.

    ConsNone that I can think of. Possibilities are endless.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Many futile attempts to get back on course...

    Information Technology (Current Employee)
    Troy, MI

    ProsThe 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.

    ConsMany 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 Senior ManagementMiddle 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.

    No, I would not recommend this company to a friend

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    Management is constantly changing....lack of consistency

    Anonymous Employee (Current Employee)

    ProsSome really great people within the organization to work with, but many of them do not stay because their contributions are not valued. The work is interesting, and assignments are challenging.

    ConsNot enough management training
    lack of upward mobility
    focus of company seems to constantly change

    Advice to Senior Managementcross train employees, better 401K benefits needed, work on retention of quality employees.

    No, I would not recommend this company to a friend

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    Unprofessional Bank

    Regional Manager (Current Employee)
    Detroit, MI

    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

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    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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    Review of the company

    Mortgage Loan Officer (Current Employee)
    Troy, MI

    ProsThe compensation as a loan officer is great.
    The company is very flexible with the hours for the loan officer.
    Management is very laid back

    ConsThe company was unorgainized
    They did not set goals for loan officers
    They did not have many values posted around the company
    The managers seemed very lost in there roles, they didn't offer much guidance to the employees.
    It was very difficult for management to get anything done in order to keep customer service.
    The company does not offer any growth opportunities.

    Advice to Senior ManagementBe more informative with the employees and have more meeting that execute on the discussion in the meeting.

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

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    Lack of Communication

    Anonymous Employee (Current Employee)

    ProsFlexibility, ability to learn through experience

    ConsLittle direction and communication from management unless a negative event has occurred. Employee reviews are not reviewed with employee and compensation for jobs is unclear and unspoken among different departments.
    Instead of finding a solution to the problem negative nit picking occurs and a blame game starts instead of looking at the overall objective.

    Advice to Senior ManagementCommunicate goals and events when things are positive not only negative. If a expectation is expected make the goal and journey clear.
    Universally communicate among departments so that statistical financial findings can be analyzed to enhance process instead of trying to avoid blame
    Bullying is not a way to enhance employee performance.

    No, I would not recommend this company to a friend

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    Pretty good company to work for.

    Personal Banker (Current Employee)

    ProsGreat benefits program. Work hours are extremely family friendly. Training available to those seeking it. Encouraged to handle customer complaints on your own.

    ConsFlagstar has little room for advancement. Management positions are held by longtime employees. The economy has resulted in layoffs in the company.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Very unprofessional place to work

    (Current Employee)
    Bellevue, WA

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

    First Vice President (Current Employee)
    Troy, MI

    ProsAbility to make a difference in a growing company.

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

    Advice to Senior ManagementPeople are the greatest asset - treat them with respect and they will do great things for you.

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

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Glassdoor is your free inside look at Flagstar Bancorp reviews and ratings — including employee satisfaction and approval rating for Flagstar Bancorp CEO Alessandro P. DiNello. All 54 reviews posted anonymously by Flagstar Bancorp employees.