Flagstar Bank Reviews

Updated August 2, 2015
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57 Employee Reviews

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  1. Part Time FSR

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Great people, good job while in school

    Cons

    Some customers can be rude.


  2. Senior Loan Officer

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Home Loan Advisor
    Current Employee - Senior Home Loan Advisor
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Flagstar Bank full-time (More than a year)

    Pros

    clean work environment, no clock punch, managers are nice

    Cons

    very little coorporate support, no direction,


  3. Helpful (1)

    Fun for the most part

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous
    Current Employee - Anonymous
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Flagstar Bank full-time (Less than a year)

    Pros

    I have definitely lucked out working here. My team is a good one. The managers I have had, have been great mentors and are always finding ways to help you grow and succeed. There is opportunity to grow. Sometimes close by an somtimes moving might be required. Upper Management can be alright but sometimes can be a bit unreasonable in their exexpectations. All in all, it is good place to work.

    Cons

    Lending is horrible. Process is drug out. Pay could be much better for the responsibility that some personal bankers carry. Goals for assistant managers should be changed to branch goals.

    Advice to Management

    If a banker has more than one responsibility, e.g. personal banker plus certified lender be sure they are making a base pay especially if they are performing well. Please change assistant manager goals to a branch focused goal.


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  5. Helpful (1)

    Company was once cutting edge - the changes in the market appear to have caught Flagstar wrong-footed

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Account Executive in Troy, MI
    Current Employee - Account Executive in Troy, MI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Flagstar Bank full-time (More than 10 years)

    Pros

    It was once a culture of growth and improvement

    Cons

    Very poor culture - discouraging place to work. Its suffocating

    Advice to Management

    The attitude at corporate is horrendous...and that negativity spreads to all corners of the company


  6. Decent company, little to no advancement

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Troy, MI
    Current Employee - Anonymous Employee in Troy, MI
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Flagstar Bank full-time (More than 3 years)

    Pros

    Training is very well run, the expertise of the staff provides exceptional insight to new hires. Bank Holidays are a very nice perk. Compensation is average with industry.

    Cons

    This company has legacy issues that have stunted its growth. This causes the working environment to have a lot of conflict due to lack of advancement. Additionally, a struggling housing market is causing multiple staff reductions.

    Advice to Management

    Management should encourage innovation within the company without fear of retaliation. This company is hurting itself by not letting its employees share ideas and encourage their creativity. A key concept of change is innovation and it is not rewarded, instead successes go unrecognized and feedback is discouraged.


  7. Management unorganized and lacked professionalism in the department.

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

    I worked at Flagstar Bank full-time (More than 3 years)

    Pros

    Overtime available, bank holidays, and flexibility with schedule. Opportunities to move into different roles within department.

    Cons

    Lack of training and lack of leadership.

    Advice to Management

    Be honest with your employees.


  8. I learned the difference between wholesale mortgage banking and retail mortgage banking

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bank (Less than a year)

    Pros

    i was exposed to a lot of avenues to originate loans with real estate agents and I learned a lot of ways to originate loans from cold calls.

    Cons

    I was told when I was hired that Flagstar sent loans to other banks for service if they didn't have a program available for a customer but found out this was untrue...also at the time of my employment processing was very slow...may have improved by now...

    Advice to Management

    Be honest, assist new loan officers regarding mortgage products and dealing with clients...


  9. Helpful (2)

    Things are improving

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Analyst in Troy, MI
    Current Employee - Business Analyst in Troy, MI
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at Flagstar Bank full-time (More than 10 years)

    Pros

    Senior level management is trying to make improvements. Things have been quite unstable for last several years, but it feels like things are looking up.

    Cons

    Mid level management has been around too long. No matter how much senior management tries to make improvements, mid level managers are stubborn and unwilling to change. Most managers at that level are only in their position because of seniority. They lack the skills needed to mentor their employees. We basically just do what we are told, so there is really no opportunity to shine and that is sad as there are a lot of brilliant minds at Flagstar. If only their voices were being heard.

    Advice to Management

    Senior management is doing good job communicating to their direct staff but it stops there. Spend some time to really evaluate your middle management team. Take the time to really listen to what people are saying and do something about it.


  10. AVP in the National Sales and Development Department

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President National Sales in Troy, MI
    Former Employee - Assistant Vice President National Sales in Troy, MI
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Flagstar Bank full-time (More than 10 years)

    Pros

    I really enjoyed the work that I did and the people I worked with. They had great benefits that included, health insurance, vacation time, and 401K.

    Cons

    After working at Flagstar for 18 years, I was not able to advance any further within the company and due to downsizing, my position was combined with another area and my position eliminated.

    Advice to Management

    My advise to management would be better communication. They had a tendency to keep the companies financial position and/or plans amongst themselves, leaving those that were in jeopardy of loosing their jobs without an opportunity to find other employment.


  11. Challenging

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Supervisor Servicing in Troy, MI
    Current Employee - Supervisor Servicing in Troy, MI
    Neutral Outlook
    No opinion of CEO

    I have been working at Flagstar Bank full-time (More than 10 years)

    Pros

    Safe environment, good cafeteria and relaxed dress code

    Cons

    Business units don't support bank mission

    Advice to Management

    Support your employees, they are human beings not work horses



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