Flagstar Bancorp

  www.flagstar.com
  www.flagstar.com
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Flagstar Bancorp Reviews

Updated September 14, 2014
Updated September 14, 2014
129 Reviews
2.4
129 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
38 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

59 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Fantastic internship program!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Data Governance  in  Troy, MI
    Current Employee - Data Governance in Troy, MI

    I have been working at Flagstar Bancorp full-time for less than a year

    Pros

    As an intern, you are treated as an equal and they make sure to train you for the banking environment just as they would for any other role.

    At other companies, a peer was my mentor. At Flagstar, my supervisor was my mentor and she made sure that I was recieving the best experience possible by introducing me to technologies that would help to advance my career. More importantly, she was never too busy for me and was willing to spend as much time to help me gain an understanding as to what is expected. She wanted me to know what my role was and to be able to confidently talk about my tasks. This is not the type of internship filled with fetching coffee for the superiors and filing. They definitely expose you to important tasks that are meaningful to the company.

    Aside from learning my role, I was also encouraged to explore other roles by setting up short meetings so that I can watch their day-to-say activities. This is helpful for those who are undecided in what they want to pursue an advanced degree in because you have the opportunity to watch each role in a work environment opposed to classroom curriculum.

    I can't say enough good things about this internship experience. Not only do they want you to succeed while working for them, but also in your future career.

    Cons

    Very short internship (3 months) with no opportunity for job placement afterwards. No benefits.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Challenging

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Supervisor Servicing  in  Troy, MI
    Current Employee - Supervisor Servicing in Troy, MI

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

    Pros

    Safe environment, good cafeteria and relaxed dress code

    Cons

    Business units don't support bank mission

    Advice to ManagementAdvice

    Support your employees, they are human beings not work horses

    Neutral Outlook
    No opinion of CEO
  3.  

    If you like working with good people this place might be for you.

    • 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

    Pros

    The people that work in the branches really care about their customers and doing the right thing, The customers are amazing the daily work has a lot of responsibility but is satisfying.

    Cons

    Management continues to change and the work day goals change with it. They have too many meetings with no substance.

    Advice to ManagementAdvice

    They do not take a look at what is actually happening at the branches or listen so this would be useless.

    Doesn't Recommend
    Negative Outlook
    Disapproves 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 for 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.  

    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
  7. 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
    Current Employee - Information Technology in Troy, MI

    I have been working at Flagstar Bancorp full-time for 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
  8.  

    Awesome environment and great corporate/professional environment.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Secondary Marketing - Lock Desk  in  Troy, MI
    Current Employee - Secondary Marketing - Lock Desk in Troy, MI

    I have been working at Flagstar Bancorp full-time for more than a year

    Pros

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

    Cons

    None that I can think of. Possibilities are endless.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Management is constantly changing....lack of consistency

    • 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 for more than a year

    Pros

    Some 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.

    Cons

    Not enough management training
    lack of upward mobility
    focus of company seems to constantly change

    Advice to ManagementAdvice

    cross train employees, better 401K benefits needed, work on retention of quality employees.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Unprofessional Bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Regional Manager  in  Detroit, MI
    Current Employee - Regional Manager in Detroit, MI

    I have been working at Flagstar Bancorp full-time for more than 5 years

    Pros

    There are no compelling reasons to work at Flagstar Bank other than yoy receive a check every two weeks!

    Cons

    Sandro 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 ManagementAdvice

    Sandro, 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!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Review of the company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Mortgage Loan Officer  in  Troy, MI
    Current Employee - Mortgage Loan Officer in Troy, MI

    I have been working at Flagstar Bancorp full-time for more than 3 years

    Pros

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

    Cons

    The 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 ManagementAdvice

    Be more informative with the employees and have more meeting that execute on the discussion in the meeting.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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